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Katarina Scamborova has been appointed president of the new vehicle. -
The facility will provide reinsurance coverage over three underwriting years.
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Brokers expect strong competition at remote risk layers at the 1 January renewal.
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He will be based in the Bermuda office and work to develop the underwriting associates.
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Most of the ILS capital was attracted to the cat bond market.
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Cat bond funds continue to draw interest as private ILS more challenged.
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The headline figure of $7.15bn includes $2.91bn of DaVinci equity plus debt.
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The Bermuda regulator is consulting on a refresh of its rules that will be in force as of 1 January 2025.
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Growth was driven by strong returns and new investors entering the market.
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Quick-moving cat risk trading may become more prevalent in the ILS market.
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The James River-Long Tail Re deal is the latest example of deal-specific investor capital.
