Stone Ridge Asset Management
-
The transaction is the first proportional deal for cyber risk in the capital markets. -
The asset manager’s reinsurance funds shrank 17% in its fiscal year to end October to reach $2.6bn.
-
Flagship sidecar funds run by Stone Ridge and Amundi Pioneer lost 12% and 5% respectively last week.
-
The ILS manager’s half-year report showed significantly lower holdings with Everest Re, as much of its portfolio has gone private.
-
The segment’s lustre has been dulled by losses and capital trapping.
-
The fund’s prospectus showed 2017 was its only negative year since 2014.
-
The cat bond-focussed High Yield fund made a smaller annual gain of 2.2% but drew in more investors.
-
The more cat bond focussed vehicle added just under $300mn in the half-year.
-
Hank Greenberg’s Starr Insurance and Liberty Mutual have invested in the service provider, which will enable bitcoin-powered P&C solutions.
-
The news follows the reinsurer’s announcement that the executive would step down from his role at the end of April.
-
The ILS manager offered to repurchase 20% of Interval fund shares, but this failed to meet investor demand to exit.
-
Net assets across the manager’s interval and high-yield reinsurance funds totalled $3.82bn at 31 October, down 31% from a year earlier.
Most Recent
-
NFIP targets $250mn FloodSmart Re coverage
06 February 2023 -
Louisiana lawmakers pass $45mn insurance incentive bill
06 February 2023 -
Moody’s downgrades Scor's financial strength rating
06 February 2023