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Markel to wind down retro ILS fund manager Lodgepine

Markel Corporation has decided to wind down its retrocessional reinsurance focused insurance-linked securities (ILS) fund manager, Lodgepine Capital Management, citing retro market headwinds and a challenging fundraising environment. The move comes on the heels of significant catastrophe losses in 2021, which have particularly affected some retro reinsurance products, driving a significant read the full article →

Markel on-track to transfer all cat business to ILS model: Co-CEO’s

Markel Corporation intends to continue to cede retrocessional reinsurance business to its Lodgepine Capital Management start-up retro ILS investment manager and expects the full retro book to transfer to the ILS model in time, Co-CEO Ritchie Whitt said today. Speaking during the Markel third-quarter 2021 earnings call, Co-CEO Whitt highlighted the read the full article →

Nephila AuM declines $500m to $9.3bn, but fees rise for Markel

In the last quarter of record, revenues earned from its flagship insurance-linked securities (ILS) operation Nephila Capital rose for parent Markel Corporation, but assets under management at Nephila Capital declined heavily in Q3, dropping by $500 million to $9.3 billion by the end of September. Nephila Capital's assets under management have read the full article →

New Nephila offerings planned, retro to transition to Lodgepine: Markel’s Whitt

New opportunities for Nephila Capital to grow its insurance-linked securities (ILS) business are expected to come to fruition over the next year through bespoke offerings and ESG portfolios, while Lodgepine's first retrocession ILS fund launch is just the start, according to Markel Corporation Co-CEO Richie Whitt. Speaking during the Markel second-quarter read the full article →

Markel’s Lodgepine launches first retro ILS fund with ~$100m

Lodgepine Capital Management Limited, the retrocessional reinsurance ILS fund management unit of Markel Corporation, launched its first insurance-linked securities (ILS) fund featuring third-party capital at July 1st 2021 with just under $100 million in assets. Lodgepine Capital Management has been in start-up mode for more than a year, underwriting its own read the full article →

Lodgepine had “terrific” double-digit year in 2020: Markel Co-CEO Whitt

Lodgepine Capital Management Limited, the retrocessional reinsurance ILS fund management unit of Markel Corporation, had a "terrific" year in 2020, delivering double-digit returns on its portfolio which largely avoided any loss impacts during the period. Markel launched the retro reinsurance investment manager in late 2019, bringing a new insurance-linked securities (ILS) read the full article →

Markel hopes to add new ILS inflows during second-half: Co-CEO Whitt

Markel Corporation hopes to see fresh inflows coming into its insurance-linked securities (ILS) business in the second-half of 2020, as the capital markets become less volatile and investor confidence recovers, according to Co-CEO Richie Whitt. As we explained yesterday, insurance-linked securities (ILS) assets under management have declined at Markel's flagship ILS read the full article →

Lodgepine launch timing hit by Covid-19, Markel houses retro portfolio

Timing of the full launch of Lodgepine Capital Management Limited, the recently established retrocessional reinsurance ILS fund management unit of Markel Corporation, may be impacted by the effect of Covid-19 on global investor allocation decisions, the company said recently. In reporting its first-quarter results, Markel said that Lodgepine Capital Management and read the full article →

ILS to drive “increasing advantages & profitability” for Markel: Co-CEO’s

Insurance-linked securities (ILS) is seen as one of the cylinders of the insurance and reinsurance engine for Markel Corporation and the firm's CO-CEO's Thomas Gayner and Richard Whitt see ILS driving "increasing advantages and profitability" for the company with its leading position set to help it scale in the space. Having read the full article →

Lodgepine Reinsurance the first Bermuda “Collateralized Insurer”

Lodgepine Capital Management Limited, the retrocessional reinsurance ILS fund management unit of Markel Corporation, has become the first to register a vehicle under Bermuda's recently established "Collateralized Insurer" class of company. Bermuda's regulator designed the collateralized insurance and reinsurance class of Limited Purpose Insurer (LPI) as a response to the increasing read the full article →