Iris Re
IPO target halved for Kingsway / 1347 backed Insurance Income Strategies
The target for the initial public offering (IPO) and first capital raise for Insurance Income Strategies Ltd., the listed industry-loss warranty (ILW) focused insurance-linked securities (ILS) and collateralized reinsurance fund backed by 1347 Advisors and Kinsgway Financial, has been halved. Last October we covered the initial filings for the new ILS read the full article →
Net assets rise for City National Rochdale ILS fund, but portfolio doesn’t
Total net assets appear to have risen at industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund the City National Rochdale Select Strategies Fund (CNRLX) in the last quarterly report, but at the same time the value of investments in the portfolio was almost static. The City National Rochdale Select read the full article →
Lower Irma estimate helped City National Rochdale ILS fund recover
A lower than expected industry loss from hurricane Irma helped the industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund, the City National Rochdale Select Strategies Fund (CNRLX), recover much of its wind ILW losses, as positions moved from being considered a loss to untouched. The 2017 hurricane season caused read the full article →
Kingsway / 1347 backed Insurance Income Strategies targets $52m
Insurance Income Strategies Ltd., a new listed insurance-linked securities (ILS) and collateralized reinsurance investment vehicle backed by 1347 Advisors and Kinsgway Financial, is targeting an initial $52 million capital raise, SEC filings show. Back in October we covered the initial filings for this new vehicle, which intends at launch to act read the full article →
City National Rochdale ILS fund drops 22% on hurricanes
The City National Rochdale Select Strategies Fund (CNRLX), an industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund run by Royal Bank of Canada subsidiary City National Rochdale, LLC, saw the value of its investments decline 22% due to the major hurricanes that hit the United States. The asset manager read the full article →
City National Rochdale ILS fund hits $15m, targets broader ILS allocation
In just the first few days of operation of its ILW focused mutual insurance-linked securities (ILS) fund, Royal Bank of Canada subsidiary City National Rochdale, LLC raised over $15 million, its first report suggests. The asset manager is also set to target reinsurance linked investments and ILS for its other read the full article →
Listed ILS vehicle launching with Kingsway / 1347 backing & Cartesian input
A new listed insurance-linked securities (ILS) and collateralized reinsurance investment vehicle, Insurance Income Strategies Ltd., is being marketed to investors with backing from 1347 Advisors and Kinsgway Financial, while a relationship with ILW specialist reinsurance fund manager Cartesian Re is set to assist with sourcing investment opportunities. A prospectus has been published read the full article →
City National Rochdale begins marketing mutual ILS fund
The City National Rochdale Select Strategies Fund (CNRLX), an industry loss warranty (ILW) focused ILS mutual fund has opened for commitments, as Royal Bank of Canada subsidiary City National Rochdale, LLC, part of City National Bank, has now started to market the fund to investors. As we've covered before, the City read the full article →
Rochdale mutual ILS fund to target $500m, strategy details revealed
In its first two years of operation, the City National Rochdale Select Strategies Fund which has been launched as a U.S. 1940's Act mutual insurance and reinsurance linked securities fund by a subsidiary of the Royal Bank of Canada, will target raising ILS assets under management of $500 million in read the full article →
Rochdale mutual reinsurance fund renamed, will invest in Iris Re
City National Rochdale, LLC's insurance-linked securities (ILS) and reinsurance linked investment mutual fund is set for launch by the investment advisor. The City National Rochdale Select Strategies Fund expects to invest a significant proportion of its assets in Cartesian's Iris Re vehicle. City National Rochdale, LLC is a wholly owned subsidiary read the full article →
