Eklund mulls new retro ILS start-up for 1.1Former RenaissanceRe and Aeolus executive David Eklund is working on a potential fundraising for a new retro-focused ILS fund that is thought to be targeting a size of up to $600mn-$700mn, The Insurer can reveal.
Paris’ ILS ambition reignites 1,000 years of cross-channel rivalryNothing unites the British like their entrenched dislike of the French. Over nearly a millennia of less than cordial co-existence from the Battle of Hastings to the Brexit referendum.
Nephila to launch standalone Lloyd’s managing agencySix years after entering the Lloyd’s market, Nephila will become the first ILS fund manager to operate its own managing agency at One Lime Street from next month.
ILS endures testAon Securities CEO, Paul Schultz, provides an overview of the recent trends in ILS, highlighted in the team’s 2019 ILS annual report
Alternative capital drop highlights reinsurers’ retro relianceRatings agencies believe the slowdown in the influx of alternative capital to the reinsurance industry will continue, which comes against a backdrop of increased reliance on the retrocession provided by third-party sources.
Aon: ILS sector poised to resume growth following 2018 plateauThe Insurance-Linked Securities (ILS) market is expected to stage a recovery after a challenging 2018, according to the findings of the Aon Securities ILS Annual Report 2019.
Loss creep drives flight to quality in ILS market: RenRe’s DuttThere has been a clear flight to quality in the ILS market as investors respond to two years of heavy cat activity and loss creep, according to RenaissanceRe’s Aditya Dutt.
Climate change concerns to drive alternative capital slowdown: FitchIn its global reinsurance outlook for 2020, Fitch expects the slowdown in the influx of alternative capital to continue in part because of investors’ growing uncertainty about the impact of climate change on insurance claims.
Schroders names TMR’s Ruoff deputy head of ILS unitGlobal asset management company Schroders has hired former Tokio Millennium Re Group CEO Stephan Ruoff as deputy head of its newly formed ILS management unit, Schroder Secquaero.
More ILS funds to set up rated reinsurers: S&PS&P believes convergence capital will continue to flow to ILS funds, despite high losses in the past two years and trapped capital, with the ratings agency also expecting more funds to explore setting up rated carriers.
Key vote on California’s disaster insurance bill scrappedProgress has stalled on a bill that would allow California to take out insurance and buy catastrophe bonds against wildfires and other disasters.
Arch confirms Ventus deal as Reeth retirement announcedIn a move first revealed by The Insurer, Arch Insurance North America has confirmed a deal to buy specialty property MGU Ventus Risk Management that will allow it to add third party capital alongside its own product offerings.
Leadenhall bolsters Bermuda presence with Adolph appointmentLeadenhall Capital Partners’ Ben Adolph is to relocate to Bermuda from London as the ILS fund manager looks to build out its footprint on the island.
ILS issuance declines by 58% in Q2The insurance-linked securities (ILS) market saw a 58 percent fall in issuance in the second quarter of 2019 compared to Q2 2018, according to Willis Re Securities.
New Markel retro platform “not a replacement” for CatCoMarkel’s co-CEOs in an earnings call stressed they will take a “crawl-walk-run” approach to its new Bermuda retro platform and also explained a $213mn investment in MGA Hagerty.
Blue Capital to run off listed ILS fundSompo-owned Blue Capital has announced that its New York and Bermuda listed vehicle will go into run-off and return capital to shareholders as it winds up its operations.
Markel to launch new retro ILS platform, wind down CatCoMarkel intends to establish a new retrocessional ILS platform in Bermuda, comprised of a reinsurance company, fund entity and investment manager.
Arch in record $700mn mortgage ILN dealArch Mortgage Insurance has completed its third mortgage reinsurance insurance-linked note transaction (ILN) of the year, while NMI Holdings has announced a $327mn mortgage ILN issuance.
Hiscox promotes Hughes to lead ILS business as Lowther departsHiscox has appointed Andrew Hughes to the role of managing principal, Hiscox ILS.
ILS repricing attracting new investors: Twelve CapitalCat bond investment manager Twelve Capital has revealed “strong inflows” of close to $400mn in 18 months for its latest UCITS fund, and reported new investors are entering the ILS market.