Tangency

ILS fund manager Tangency Capital raises $200mn ahead of 1.1

2022-11-14T13:39:00+00:00

Tangency Capital, a Bermuda-based ILS fund manager, has raised an additional $200mn from third-party investors as it looks to take advantage of expected rate rises at the 1 January renewals.

IM-Hurricane-Ian-Plenum

ILS manager Plenum says Ian cat bond losses “significantly lower” than expected

2022-11-14T08:12:00+00:00

Plenum Investments has cut its Hurricane Ian loss expectations for its catastrophe bond investment funds after initial estimates from sponsors came in “significantly lower” than expected.

Fitch Ian flood

Fitch warns ILS market will take “fair share” of Ian loss, investors may “look elsewhere”

2022-10-17T20:14:00+01:00

Fitch Ratings expects the ILS market to take a “fair share” of Hurricane Ian losses, pointing to the sharp drop in several cat bond indices in September as a reflection of initial market reaction, while the rating agency has also revised its industry loss estimate for the storm to between ...

IM-K2International-StonybrookCapital-Hurricane

K2 International retains Stonybrook to raise $250mn for reinsurance vehicle

2022-10-14T20:17:00+01:00

Fast-growing MGA consolidator platform K2 has hired investment bank and reinsurance intermediary Stonybrook Capital to raise as much as $250mn for a new reinsurance vehicle that is intended to provide catastrophe capacity to K2 International, The Insurer can reveal.

Mike Millette – CQ

Millette: First cyber 144A cat bond “likely” for 2023

2022-10-14T14:58:00+01:00

Hudson Structured Capital Management (HSCM) co-founder and managing partner Michael Millette has predicted the first cyber 144A cat bond will go live in 2023, but warned growth in this space will be slow and “requires patience”.

Michael Millette – CQ

Millette: ILS cat paradigm is “broken”; wholesale rethink required

2022-10-13T14:26:00+01:00

Hurricane Ian is proof the cat reinsurance “paradigm has broken down”, with ILS investors expected to demand a substantial restructuring of both the coverage and collateral triggers before they consider another reload, predicts one of the sector’s most influential voices.