ILS
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The all-cash purchase price fell slightly below initial expectations of a $1bn-plus valuation for the Bermudian manager.
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The London-based asset manager has raised more than $600mn for life ILS strategies since July.
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The Bermudian firm’s management team is praised for its ‘excellent job’ in growing its AuM.
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The commercial pool will bring together traditional and ILS capacity, it was announced.
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The ILS fund manager had received approval to operate the SPA next year, though the Corporation rejected an application to convert the vehicle into a full syndicate.
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Former Marsh broker Richard Green becomes regional head.
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Climate change is climbing up the (re)insurance agenda.
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This is the third time Arch has sought cover for its mortgage book via an ILS deal in 2018.
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The resort town of Mazatlan is among the areas under threat. -
Reinsurers now have fresh impetus to argue for flat renewals at 1 January.
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Jebi is said to have hit third layers of some occurrence covers while Trami has eaten through back-up protections.
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Reinsurers must be prepared for how much work is required to be an asset manager, said the Hiscox Re & ILS COO.
