ILS
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Sentiment at the ILS Connect event hosted by Insurance Insider ILS was generally positive. -
Being the “new kid” has created interest in the market, Mereo CEO Croom-Johnson added.
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Erik Manning is joining the business from BMS as head of ceded reinsurance.
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Recent transactions on the platform include cat bonds from Flood Re and Brit.
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The firm also promoted Devin Inskeep to an expanded role as SVP, head of ratings and advisory.
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Bolding will focus on aligning Gallagher Securities with Gallagher Re.
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Theo Norris joins from Gallagher Re, which brokered one of the first 144A cyber cat bonds.
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The state insurer is budgeting for an extra 43% of overall coverage in 2025-26.
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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In line with Milton’s moderate forecast loss, the ILS market reaction will be less influential in post-event dynamics.
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Changes to the categorisation and oversight of managing agents seek to reduce duplication and thereby cut costs.
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Cat bond funds have been attracting inflows while confidence is patchier across collateralised re.
