Neuberger Berman

The NB Reinsurance Ltd., the Class 3 reinsurer of global asset manager Neuberger Berman’s insurance-linked securities (ILS) operations, has completed a new issuance of shares which are likely to support new capital raising activities.

The City National Rochdale Select Strategies Fund (CNRLX), an industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) investment fund, managed a 6.6% annual return in the year to Jan 31st 2019, while its assets under management increased in the last quarter as well.

Industry loss warranty (ILW) investment focused mutual insurance-linked securities (ILS) fund, the City National Rochdale Select Strategies Fund (CNRLX), has grown in its last reported quarter while at the same time losses from the prior year appear to have been largely settled.

The addition of insurance-linked securities (ILS) investment expertise, through the recently announced acquisition of the Cartesian Re ILS operations, is expected to “enhance” the institutional client portfolios offered by asset manager Neuberger Berman Group.

The insurance-linked securities (ILS) and collateralized reinsurance investment management entities of the Cartesian Capital Group have been sold to investment manager Neuberger Berman Group.