Results
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Steiger will oversee the new article 8 classified fund, based out of Zurich. -
The new fund generated 11.2% in profits for the period from 27 January to 31 October last year.
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The firm’s flagship reinsurance strategy delivered its best performance in its 10-year history.
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The (re)insurer also predicted its return on investment would improve “noticeably” next year, to more than 2.8%.
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The Eurekahedge ILS Advisers Index has posted the strongest performance for October since it started in 2008.
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Swiss Re Alternative Capital Partners assets under management hit $3.3bn as of 30 September.
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AuM stood at $1.5bn as of 30 September, up from $1.2bn as of January 2023.
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The French carrier's operating result was EUR257mn, an increase of more than 130% on the prior-year period.
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Hannover Re said it was in discussions with retro partners about buying less in 2024.
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The group’s ceded large losses reached 17% of gross losses, up from 11% a year ago.
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The deal values the Bermuda casualty re subsidiary at 0.75x book with James River to receive $138mn in cash and a $139mn pre-closing dividend.
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Hiscox said outflows from the ILS unit were offset by "record returns" in Q3.
