ILS funds news, insurance linked securities or ILS fund news

According to Adam Beatty, Managing Director of Nephila Advisors UK, a division of the world’s largest insurance-linked securities (ILS) manager, Nephila Capital, access to risk and origination are key ways fund managers can differentiate themselves.

Typhoon Jebi is estimated to have caused an insurance industry loss of $10 billion by Property Claim Services (PCS), with the potential for further loss creep apparent, according to Tom Johansmeyer, Co-Head PCS.

Fresh capital raising for 2019 in its Upsilon vehicle has taken RenaissanceRe’s third-party reinsurance and insurance-linked securities (ILS) capital under management close to $5 billion.

Hiscox said that it has continued to see sustained demand for its Hiscox Re ILS funds, despite the impacts of major losses over the last year and the firm has launched a new ILS strategy in January with a focus on accessing primary insurance returns.

The recent shift in ownership of London headquartered insurance and reinsurance linked investment manager, Leadenhall Capital Partners to Mitsui Sumitomo (MSI), enables the ILS manager to better utilise the full-potential of its resources and is a reflection of the group’s growth aspirations, according to Leadenhall’s CEO, Luca Albertini.

Anthony Belisle, the former CEO of retrocessional reinsurance investment manager Markel CATCo Investment Management and Alissa Fredricks, the former CEO of its Bermuda operations, are both claiming wrongful dismissal from the firm.

Reinsurance firm and third-party capital manager RenaissanceRe grew its insurance-linked securities (ILS) assets under management (AuM) by $500 million in 2018, with much of the increase coming from its recently launched Vermeer Reinsurance Ltd. strategy as well as growth in its Upsilon vehicle.

Typhoon Jebi, a storm that made landfall in Japan on September 4th 2018, has become an outlier for loss creep in the country, with the insurance and reinsurance industry loss now said to have surpassed $10 billion.

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.

It’s always refreshing to hear that the original premise for the capital markets entry into reinsurance holds true, even for the very largest reinsurers in the world.