ILS Capital Management
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Potential rotation of the investor base, along with continuing evolution in ESG and non-cat products, are set to be themes for the upcoming year.
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The firm has grown beyond traditional ILS over the decade since its formation.
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The Bermudian fund bought £280,000 of shares in the Lloyd’s investment platform.
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ILS Capital Management has backed the launch of a new InsurTech incubator, Mltply, which will offer fronting and reinsurance capacity to start-ups as well as venture capital and infrastructure support.
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The non-compete will not apply to ILS advisory, as takeover deal brings Willis Re Securities and Horseshoe under same parent.
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The A rated platform is due to take on renewals from the firm’s 1609 Fund.
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ILS Capital has invested seed capital in start-up InsurTech provider Pouch, which provides auto coverage for small businesses.
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Trapped capital subdued the firm's overall fund return to a 1.6% gain, as primary insurance gains outweighed reinsurance losses.
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Helios said the deal is part of a £60mn share offering to fund further Lloyd’s capacity acquisitions.
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The approval gives ILS Capital the go-ahead to begin shifting to traditional reinsurance.
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The manager will support Apollo’s auto-focused Ibott syndicate as well as a contingency vehicle.
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The ILS manager is in the process of applying for a corporate member, sources said.
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ILS veteran Kathleen Faries also advocated for an industry superhighway to transform the way risk is moved.
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The deal frees up 70% of the firm's total trapped capital.
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The asset manager said it would also be impacted by a slowdown in auto insurance premiums.
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The fund has cut back in retro but plans US insurance expansion.
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Using Kroll to rate Prospero Re allowed the firm to add customised ILS features to the rated structure, by having its fund investors own the platform.
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The Don Kramer-backed fund's Bermuda reinsurer Prospero Re has been given an A rating.
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The ILS Capital Management managing partner also sees opportunities in taking business from Lloyd’s.
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The firm’s 2019 portfolio has pushed further into specialty, US insurance and Lloyd’s risks.
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RenRe’s takeover of the reinsurer will shrink capacity, says ILS Capital’s Libassi.
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The New Mexico Educational Retirement Board pension fund invested in ILS via ILS Capital Management.
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ILS Capital Management has taken a minority stake in US insurer Producers National, the firm told Trading Risk.
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