ILS
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By setting up an asset manager, the reinsurer is competing with ILS firms on their turf. -
The company has expanded its sidecar in recent years but this will allow it to tap into a different investor base.
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The Syndicate 6131 team will also start writing business on ILS Capital’s US rated balance sheet.
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Direct investment has propped up the reinsurer ILS platforms, but further evolution will be needed.
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The Nephila CEO said ILS capital backing sidecars that are a "trade not a relationship" will charge a higher cost of capital.
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The executive has begun sounding out investors about a retro offering.
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The expansive ILS firm is likely to look for debt funding to remain staff-owned.
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Post-Covid fundraising may not be on the same scale as the post-Irma reload, but similar narrative themes are a risk to monitor.
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The ILS manager is in the process of applying for a corporate member, sources said.
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Nicholas Hughes will become retro head, while Guy Hengesbaugh and Aaron Coates join as underwriters.
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We round up the biggest themes from our five-day virtual conference, which welcomed 2,600 delegates this week.
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The international chairman says poor investment returns will drive push for rate adequacy.
