ILS

The ILS market faces a test to recover position as it loses market share to traditional players.

With more than $4bn of assets under management, Elementum was the third-largest independent ILS firm left in the market.

Scor chairman and CEO Denis Kessler said the Coriolis acquisition would help its ILS platform move into the top tier of the market.

American Integrity Insurance and Safepoint have looked to tap the ILS market this week.

The deal would bolster the reinsurer’s ILS assets under management by more than 60 percent to $2.1bn.

The Akibare Re bond will pay out to Mitsui Sumitomo, sister publication Trading Risk revealed.

Arch Capital backed hedge fund carrier’s outlook graded “stable”.

The issuances from United Insurance Holdings (UPC), American Integrity Insurance Company and Safepoint point to a slight hardening of the market.

Nephila has also stopped buying ILW cover as the market of buyers shrinks.

Investors remain committed to the insurance-linked securities market even if first-quarter issuance has dropped dramatically.

Allianz, Swiss Re or, let’s be honest – Convex – would have been better for John Neal. But Samsung Fire & Marine’s decision to buy into Lloyd’s business Canopius represents a highly positive codicil to last week’s strategy announcement.

The insurer expects to complete its Florida placement later this quarter.