ILS
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The manager said last year it wanted to deploy $100mn to $200mn in casualty ILS
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Discussions with industry and in-country partners have so far foregrounded parametric solutions.
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Markel will provide approximately $150mn to facilitate the buyout of the retrocessional segregated accounts of the funds, as well as tail-risk cover to release $100mn of trapped collateral.
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Ongoing high claims from risks such as winter storm, wildfire or convective storm are playing into the climate-change debate over whether and to what extent cat reinsurers are mispricing their business.
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Carriers will not necessarily accept smaller returns in exchange for high ESG scoring vehicles and risks must be properly priced, according to Dirk Lohmann, chairman of Schroders Capital ILS.
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Managers such as Schroders and Fermat capitalised on investors looking for liquid, remote-risk strategies to grow their asset base in H1.
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The Canadian pension fund and the ILS fund provide Funds at Lloyd’s capital alongside traditional reinsurers.
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A rampaging cat bond market should lead more cedants to consider its long-term advantages.
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He worked for eight years at the French firm, where he oversaw the strategic direction of its ILS business.
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With ILS and pension fund money now confirmed for Syndicate 1988, there are further observations for the vehicle launch.
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Reinsurers from Bermuda, the Cayman Islands and Japan have also provided capital to the syndicate for its 1 July launch.
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The ILS vehicle has support from four key providers and will be launched alongside a broader offering including K&R, fine art and other specialty risks.
