ILS

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.

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.

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.

Managers such as Schroders and Fermat capitalised on investors looking for liquid, remote-risk strategies to grow their asset base in H1.

The Canadian pension fund and the ILS fund provide Funds at Lloyd’s capital alongside traditional reinsurers.

A rampaging cat bond market should lead more cedants to consider its long-term advantages.

He worked for eight years at the French firm, where he oversaw the strategic direction of its ILS business.

With ILS and pension fund money now confirmed for Syndicate 1988, there are further observations for the vehicle launch.

Reinsurers from Bermuda, the Cayman Islands and Japan have also provided capital to the syndicate for its 1 July launch.

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.

The experience of the past few years has made cedants much more concerned about managing tail risk than they are credit risk.

The platform will be managed by Horseshoe with Leadenhall’s head of non-life, Ben Adolph, acting as head of underwriting.