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Layr claims its platform can help brokers serve up to 6x more small business clients. -
With plans to support three different types of Lloyd’s syndicates, the vehicle intends to trade under the new name London Innovation Underwriters by 15 November.
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A market-wide loss of $700mn would amount to around 15% of the total amount of life ILS assets under management .
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The company’s on-risk Kilimanjaro Re cat bond volumes have been gradually shrinking in the past year.
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Doing so would save “at least $8.5mn in cash” based on the firm’s monthly operational expenditures, according to a recent motion.
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A strong outlook for sidecar profits in 2023 is rebuilding investor confidence but one to three years of good performance will be needed to sustain it more fully.
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The Bermuda-based collateralised reinsurance platform Sussex Capital was set up in December 2017 and had more than $400mn of assets at its peak.
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Bohm joins from Swiss Re Capital Markets, where he was head of structuring for the Americas.
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Fermat’s John Seo said the industry can “see the wall of money coming in, but it’s coming in slowly”.
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Bernard Opoku will replace Jeff Sangster as CFO effective 1 October.
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Hiscox and Aeolus are looking to capitalise on strong investor appetite for cat bonds this year with their respective fund launches.
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The rating follows a $25mn debt financing for the company in June last year.
