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Net assets have grown 5% year-on-year to $876mn as of 31 October 2020.
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Target investments could include cat bonds and other reinsurance, though the allocation size is unknown. -
The InsurTech announced a partnership with Lockton Re earlier this month, and completed a fundraise in the fall.
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The ILS manager is in cost-cutting mode as assets shrink, but the run-off may lead other ILS managers to reconsider their tactics with rated platforms.
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Retro deals make up a third of this year's volumes, versus a quarter in 2019.
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The new hire comes after a slew of senior appointments made by the start-up in recent months.
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The deal will provide the insurer with annual aggregate ILW cover.
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Q4 issuance will likely be robust owing to new investors and increased allocations, the CEO said.
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Industry veteran Payne was most recently at Credit Suisse Lloyd’s syndicate Arcus.
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The fund also grew its net assets by 15% to about $142mn.
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Chris Schaper becomes Validus Re CEO, Pat Regan suddenly departs QBE and more.
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Enterprise and property cat reinsurance are a “must have,” chief risk officer Julia Chu says.
