Insurance-linked investments

With the state of the market viewed as “fragile”, Luca Albertini, Chief Executive Officer and a Founding Partner of Leadenhall Capital Partners, explained to us that discipline is vital in insurance-linked securities (ILS) “for the sustainability of capital.”

Vesttoo has responded to the Official Committee of Unsecured Creditors calls for its liquidation to be accelerated, stating that it has produced “a significant business plan” and that the creditors should give the insurtech the time to deliver what it believes could be a “value-maximizing transaction.”

Asset manager Schroders Capital has given additional responsibility to its head of insurance-linked securities (ILS), with Stephan Ruoff now also becoming Co-Head of a newly formed Private Debt and Credit Alternatives (PDCA) business unit at the company.

Securis Investment Partners, the London-headquartered insurance-linked securities (ILS) investment manager, has strengthened its business development and investor relations function with two promotions and two new global hires.

The Official Committee of Unsecured Creditors in the Vesttoo bankruptcy case objects strongly to the insurtech’s plans to attempt to trade forward, calling these efforts a “wasteful pursuit” that is burning money that could be returned to those harmed by the extensive letter of credit (LOC) in reinsurance fraud.

Reinsurance market conditions are primed for an increasing turn towards alternatives, in sourcing capital and risk transfer solutions, according to Laurent Rousseau of Guy Carpenter.

Specialty player R&Q announced an agreement to sell its Accredited program management business to private equity investor Onex on Friday, a move that will see R&Q refocus on its legacy specialism, with its Gibson Re collateralised sidecar vehicle expected to play an even more core role going forwards.

As the Chapter 11 bankruptcy case of beleaguered insurtech Vesttoo continues, the latest is that insurance and reinsurance broking giant Aon has agreed that the Committee of Unsecured Creditors can conduct some legal discovery on its entities, including White Rock.

Leadenhall Capital Partners LLP, the London-headquartered specialist insurance-linked securities (ILS) and reinsurance linked investment manager, has signed a new ILS fund distribution agreement with Bennelong Funds Management, part of the BFM Group.

While reinsurance and insurance-linked securities (ILS) continues to see a rotation out of certain investors, given macro factors and concerns over volatility, at the same time there is a new crop of investors rotating in that may better understand the fundamentals of the space.