Insurance-linked investments

The total-return of the outstanding catastrophe bond market in 2023 reached a record level of 19.69%, according to full-year data from the Swiss Re Cat Bond Performance Indices.

Today, we can reveal the third wave of expert speakers confirmed for our next insurance-linked securities (ILS) conference. ILS NYC 2024 will be held in New York City on February 9th 2024, with hundreds of attendees from the ILS community set to come together for a day of thought-leadership, discussion and valuable networking.

Stone Ridge Asset Management, the New York based asset manager an alternative risk premia focus, has experienced continued asset under management growth for its mutual insurance-linked securities (ILS) fund strategies, with total AUM rising another 10% in the last quarter to reach $3.9 billion at October 31st 2023.

Twelve Capital, the Zurich-headquartered catastrophe bond and reinsurance investment manager, has promoted one of its long-standing portfolio focused investment professionals Etienne Schwartz to become its new Head of Investment Management.

Alternative reinsurance capital, largely deployed in insurance-linked securities (ILS) formats, saw strong growth in the third-quarter of 2023 to end that period at a record high of $103 billion, while for the full-year ILS structures have delivered the best performance in their 20+ year history, broker Aon has said.

Insurance and reinsurance broking giant Aon has been given an extended time-frame to respond to the complaint filed against it in the New York Supreme Court by fronting specialist Clear Blue Insurance, in relation to the reinsurance letter of credit (LOC) fraud perpetrated by insurtech Vesttoo.

Inflows of capital to certain insurance-linked securities (ILS) managers and structures has helped in moderating retrocession pricing at the January 2024 renewals, resulting in a much less stressed market and better outcomes for some retro buyers.

Twelve Capital, the Zurich-headquartered catastrophe bond and reinsurance investment manager, has made a key new appointment, naming Dr. Erasmus Faber as the firm’s Group Chief Compliance Officer.

Investor Gallatin Point Capital is making a US $1.25 billion investment into the American Family Insurance Group owned reciprocal insurer Trusted Resource Underwriters Exchange (TRUE), with a target to write catastrophe exposed property insurance in Florida and beyond.

Stone Ridge Asset Management, the New York based asset manager with an alternative risk premia focus, made well over $1 billion in reinsurance trading profits over the course of 2023, with record returns delivered to investors by both of its mutual insurance-linked securities (ILS) fund strategies, according to CEO Ross Stevens.