Lodgepine Fund

Andrew Barnard and Brent Slade, the two most senior executives from Lodgepine Capital Management Limited, the in run-off start-up retrocession investment manager owned by Markel Corporation, are departing the company.

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.

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.

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 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 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.

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.

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.

Markel Corporation has hired Brenton “Brent” Slade from Hamilton Insurance Group to be the President of its newly launched retrocessional reinsurance ILS fund management unit Lodgepine Capital Management Limited.

Markel Corporation has revealed its awaited new retrocessional reinsurance ILS fund management unit, which is based in Bermuda and called Lodgepine Capital Management Limited.