ILS funds news, insurance linked securities or ILS fund news

Private equity and alternative investment specialist Apollo Global Management has taken an enlarged stake in Athene Holding Ltd., the life and retirement reinsurance firm that it already majority-owned, while investment commitments for its Athene Co-Invest Reinsurance Affiliate (ACRA) sidecar vehicle have risen to $3 billion.

Investment banking and asset management giant Credit Suisse has hired Jason Bolding, formerly of broker Aon’s capital markets and insurance-linked securities (ILS) team, to fill a newly created role of Head of ILS, United States.

Update: Our latest on the current wildfire outbreaks can be found here. Dangerous fire weather conditions are forecast to continue over the coming days, which threatens to help the growing Kincade wildfire expand even further and has caused the evacuation of close to 180,000 residents.

Adoption of alternative forms of capital by insurance and reinsurance cedants is expected to continue growing, as more expect to increase their use of alternative capital than expect to reduce it, Moody’s recent reinsurance buyers survey shows.

The Insurance Development Forum (IDF) considers insurance-linked securities (ILS) to be an “important part” of the work it aims to do, according to Secretary General Ekhosuehi Iyahen.

SCOR, the global reinsurance player headquartered in France, has been benefiting from its retrocesssion program for recent catastrophes, making recoveries for both hurricane Dorian and typhoon Faxai, according to the CEO of SCOR Global P&C.

As part of its efforts to run-off its portfolios of retrocessional reinsurance and return capital to its investors, Markel CATCo Investment Management has executed its first share buyback for the exchange listed ILS fund CATCo Reinsurance Opportunities Fund Ltd.

Update: Our latest on the current wildfire outbreaks can be found here. The Kincade wildfire has been burning out of control in an area of California’s Sonoma county around 70 miles north of San Francisco and as of the latest update the fire had spread to more than 16,000 acres with tens of structures already […]

Citadel Energy Investments Ltd., part of the giant Citadel investment organisation, is set to provide weather risk transfer capacity through the Speedwell Weather operated parametric weather risk transfer platform weatherXchange.

Industry losses from the flood driven damage of typhoon Hagibis could reach into the double-digit billion dollar range, according to ILS manager Twelve Capital, who also highlighted that in the ILS market it is collateralised retrocession that appears most at risk of performance impacts.