ILS funds

Following rate increases at 1 January, projected fund returns for 2023 are up several points year on year, with a boost also from higher Treasury rates.

The CFO of parent company Markel has said it aims to lean into property cat through Nephila.

Pure cat bond funds outperformed the sub-group which includes private ILS for the year.

Nephila achieved significant rate increases at 1 January and expected the strong rate environment to continue this year.

The former Lancashire treaty underwriter had worked at the ILS platform since October 2021.

For the ILS market, perhaps more than any other, the outcome of this year’s high inflation is still to be determined. Unlike other industries that are suffering increased immediate costs, this sector’s performance – as always – is ultimately driven by events no one can foresee.

The incoming president for insurance also highlighted the role Nephila could play in the transition to net zero.

The former analyst at Aeolus joins the growing number of ILS experts to join the firm.

Hurricane Ian’s legacy will undoubtedly lead to some shake-ups in the ILS sector, with ongoing progression outside cat and ESG strategies likely to be a focus.

The syndicate’s growth headroom is somewhat constrained compared to the Lloyd’s market average.

The ILS firm’s CEO Nilsen said life ILS was “poised for growth in a higher interest rate environment”.

The index year-to-date loss was trimmed to 3.41% in October, from 4.28% in September.