New Ocean Capital Management

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New Ocean’s McKeown departs, as AXA XL continues ILS growth

New Ocean Capital Management's former CEO Chris McKeown has stepped down from his Vice Chairman role to pursue other interests, New Ocean owner AXA XL said today.AXA XL acquired all third-party ownership interests in its already majority-owned insurance-linked securities (ILS) asset management affiliate, New Ocean Capital Management Limited, in November read the full article →

AXA XL grows New Ocean ILS assets to $1bn, buys more protection at 1/1

AXA XL purchased more catastrophe protection at the January 2019 renewals and also continued to increase its use of alternative reinsurance capital, which was evidenced by in-house ILS fund manager New Ocean's assets under management reaching $1 billion.AXA Group reported its highest earnings ever, on an underlying basis, rising 6% read the full article →

AXA plans to cede broader Group risk to ILS investors: Hendrick, AXA XL CEO

As global insurance and reinsurance group AXA increases its use of insurance-linked securities (ILS) capacity, the firm will aim to broaden the range of risks that it cedes to investors to include much more than just risks from the legacy XL Catlin portfolio.As we explained recently, AXA plans to further read the full article →

AXA to increase use of ILS capacity, as it further reduces cat risk in 2019

Global insurance and reinurance group AXA said that it plans to further enhance and increase its insurance-linked securities (ILS) capacity as part of its mission to de-risk and control its catastrophe exposure across the group, with further reductions in exposure expected in 2019.Since its acquisition of XL Catlin earlier this read the full article →

AXA XL takes 100% ownership of New Ocean Capital Management

Insurance and reinsurance firm AXA XL has acquired all third-party ownership interests in its already majority-owned insurance-linked securities (ILS) asset management affiliate, New Ocean Capital Management Limited.The move brings New Ocean fully in-house for AXA XL, with the ILS investment unit now set to become a wholly-owned subsidiary of the read the full article →

New Ocean delivers increased value to XL & investors as assets rise

Bermuda domiciled insurance-linked securities (ILS) and reinsurance linked investment manager New Ocean Capital Management Limited (New Ocean) has delivered increased value to its stakeholders and third-party investors over the course of 2016.New Ocean is part owned by global insurance and reinsurance group XL Group Ltd., private equity specialist Stone Point read the full article →

Mitsui takes stake in ILS manager New Ocean, invests $100m in funds

Japanese conglomerate Mitsui & Co., Ltd. has completed the recent acquisition of a 15% stake in Bermuda domiciled ILS and reinsurance linked asset manager New Ocean Capital Management Limited (New Ocean) and has made a $100 million commitment to the managers funds.Demonstrating its appetite to enter the ILS space and read the full article →

New Ocean gains perspective with XL Catlin affiliation: CEO McKeown

Bermuda domiciled ILS asset manager New Ocean Capital Management Limited (New Ocean), gains increased perspective on operations across geographies and perils through its strategic alliance with XL Catlin, according to New Ocean’s CEO Chris McKeown.Following XL’s acquisition of Catlin in 2015, New Ocean and its shareholders benefit from the extensive read the full article →

XL CIO Street to assist alternative capital innovation post Catlin deal

The leadership of XL Group following its proposed acquisition of Catlin is taking shape and the combined firm will have a different Chief Investment Officer after XL announced that Sarah Street will assume new responsibilities with a focus on alternative capital.Street is currently an EVP and CIO for insurance and read the full article →

New Ocean ups income to XL, hires COO, signs distribution agreement

XL Group's insurance and reinsurance linked investment unit, New Ocean Capital Management Limited, has increased its contribution in terms of income to XL, hired a COO and signed a distribution agreement with a global financial institution to aid growth.New Ocean Capital was launched in 2013 as a joint venture between read the full article →