Stocks
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The vehicle is smaller by 8% as White Mountains’ participation grew.
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The carrier said reinsurance was a key component of its “low-volatility strategy”.
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The vehicle is yet to recover to 2021 levels of $235mn.
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In June 2023, Hale Partnership got its license from the Cayman Islands Monetary Authority for HP Re.
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The manager’s Interval Fund returned 28.25% over the financial year.
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The broker estimated ILS capital has reached $107bn.
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The company no longer has any exposure to reinsurance contracts.
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The Class A and C notes increased in size, while the Class B note remained unchanged.
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Former ILS investors who left the space have looked again and re-allocated.
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The facility will also provide a dividend to clients for the first time.
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Lloyd’s has taken around 6% of aggregate US hurricane losses in recent years, and disclosed estimated net losses from Helene and Milton of $1.8bn to $3.4bn.