Axis said it would combine its ceded reinsurance operations and third-party capital business into a single department as it announced a broader restructure.
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.
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.
XL Group shares jumped 12.5 percent yesterday after a Bloomberg report said the Bermuda-based (re)insurer was drawing takeover interest from Allianz and possibly others.
Swiss Re said it was in preliminary discussions with Japan's SoftBank Group that could lead to a significant minority investment in the big European reinsurer by the conglomerate.
