Results
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The flat growth is a result of multiple forces influencing capital flows in both directions.
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Parent company Markel said the ILS manager’s performance was subject to a reporting lag.
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The rise in ceded reinsurance premiums written impacted net premiums written.
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Operating revenue at the ILS manager climbed 49% to $19.2mn.
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The firm’s AuM was down 17% on $1.8bn as of 31 December.
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The firm said it expects Capital Partners to continue to grow.
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Performance fees soared by 605% to $27.5mn from $3.9mn in Q1 2023.
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The firm expects pricing and terms and conditions to hold.
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The firm’s ILS unit expanded fee income by 10% over Q1 2023.
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The carrier has completed its 2024-25 reinsurance renewal.
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The fund has nine open contracts it is actively trying to run-off, four years after its failure.
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The syndicate snatched the number one spot from Chaucer’s Syndicate 1176.
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Fee income was up by 30% year-over-year to $136mn in 2023.
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Follow-only specialty Syndicate 2358 has reported a profit in both years since its launch.
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The carrier closed its Sussex Diversified Fund in October last year.
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The carrier’s non-life combined ratio improved by 5 points to 81.6%.
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The reinsurer’s large losses were down 5% to EUR1.6bn for the year.
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Estimates were revised from $845mn to $740mn.
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ILS platform London Bridge II has had a good year as volumes reached $750mn, the CFO said.
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The firm reallocated from short-tail lines amid social inflation concerns.
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The company proposed a dividend of EUR1.8 per share for 2023.
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CEO Hussain said third-party capital in 2023 remained flat.
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The firm’s assets under management dropped to $1.6bn, as a capital return more than offset new inflows.
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The closing of the Interboro sell-off was postponed to nearer the end of the year.
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The vehicle’s loss ratio improved 66 percentage points YoY.
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Munich Re said it saw no reason to lower its expectations.
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The carrier announced a capital repatriation plan of EUR3.5bn.
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The parent also expects the ILS platform’s AuM to grow.
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The acquiring reinsurer will now run off the business.
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The rise was helped by performance fees at DaVinci.
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The reinsurer’s assets under management rose 14% to $3.3bn.
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Monthly cat losses were driven by two major events.
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Its property cat aggregate cover renewed with improved coverage.
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The carrier booked a reserve charge of $392mn for casualty insurance.
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The manager’s conservative strategy posted returns of 7.61%.
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The reinsurer said retro pricing had ‘moved slightly in our favour’ at 1 January.
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The carrier faced "significant impact" from a P&C reserve charge on its earnings.
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New business across geographies drives top-line growth of 191%.
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The index posted a positive return in each of the 12 months of last year.
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Growth driven by 14% expansion in reinsurance solutions division.
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The ILS platform ceded around 40% of its total managed premiums of $1.8bn.
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The fund manager operations booked management fees of $31mn.
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The Bermudian said its third-party vehicles were “sufficiently capitalised”.
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Fourth quarter inflows also included $111mn for its retro platform Upsilon
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The Medici cat bond fund experienced the largest growth in AuM.
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The firm told investors yields in the cat bond market are 'still very attractive'.
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The carrier said it expects to maintain combined ratio expectations as it takes a selective approach to casualty lines.
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