Assets under management (AuM) controlled by the top 10 ILS firms reached $64bn at the start of 2018, as Markel said that Markel Catco's asset base reached $6.1bn and as Credit Suisse Asset Management posted $8.8bn of assets.
ILS spreads have widened in the mid-to-high teens range after last year's losses, Swiss Re Capital Markets estimated in its latest quarterly market report.
Baillie Gifford has lowered its stake in the ordinary shares on offer from the Catco Reinsurance Opportunities Fund, according to a London Stock Exchange filing.
Abuse of side pockets in the financial crisis - when hedge funds locked in investors to avoid having to sell off discounted assets - has made the practice less palatable in the wider financial markets.
Bermuda-based (re)insurer XL Catlin placed more than $500mn of new catastrophe limit for 2018 and increased alternative market retro support to more than $3bn, as ceding strategies among major carriers diverged following last year's losses.
