Family Offices Are Boosting Allocations to Alts in 2024, KKR Says
While some institutional investors sit on the sidelines, family offices plan to significantly grow their allocations to alternative investments this year, according to a report by KKR. Family offices are investing to grow wealth with future generations in mind — 93 percent said this was a focus for their portfolios, according to a KKR survey […]
Family offices leaning into insurance for diversification. So is KKR: McVey
Family office investors are increasingly leaning into allocations to the insurance sector as they seek out sources of diversification and relatively uncorrelated returns, something that investment giant KKR has been doing itself, according to the firm’s Henry McVey. For KKR, insurance is an area of investment designed to expand its business from a strategic standpoint, […]
64% of cat bond tranches issued in Q4 ’23 upsized while marketing
During the fourth quarter of 2023, the majority of tranches of cat bond notes closed above their initial target size, resulting in an average increase of 27% for the period, according to Artemis’ data. The Artemis Q4 and full year 2023 catastrophe bond and related insurance-linked securities (ILS) report shows that this is a stark contrast […]
Florida State Board allocated $398m to ILS for 1/1, across Aeolus, Pillar, RenRe
The Florida State Board of Administration, which manages the states massive roughly $180 billion Florida Retirement System Pension Plan, has allocated $398 million to reinsurance and retrocession opportunities across three ILS managers in time for the January renewals. The Florida State Board of Administration was already allocated to insurance-linked securities (ILS), for the Florida Retirement […]
Cyber cat bonds issued so far “highly correlated” with each other: Plenum
While the catastrophe bond market cheered the emergence of cyber cat bonds in 2023, fund manager Plenum Investments has offered a note of caution, saying that as they all cover cyber loss events that would be in the far tail, they are all correlated with little diversification on offer between them. As a result, Plenum […]
Cat bond funds buck the UCITS trend, growing as sector saw $38bn outflows: Kepler
Catastrophe bond funds were a bright spot in the alternative UCITS investment fund space in 2023, as cat bond funds expanded strongly at a time when the wider UCITS segment experienced approximately $38 billion in outflows, according to Kepler Absolute Hedge. As we reported back in January, our tracker of UCITS catastrophe bond fund assets […]
Cat bond market drives ILS growth, moderate expansion to continue: Moody’s
According to Moody’s Investors Service, the catastrophe bond market remains the key driver of growth in insurance-linked securities (ILS), expecting a moderate pace of growth to continue as cat bonds become increasingly embedded into cedent reinsurance towers. But a rapid growth phase for the cat bond market is not anticipated by the rating agency, because of […]
Our Programme was shortlisted for the AXCO’s Global Insurance Awards’24
Phoenix CRetro is delighted to be shortlisted for the Axco Global Insurance Awards in the Best Training Initiative in Global Risk category. Now its 2nd year, the Axco Global Insurance Awards celebrate the outstanding achievements, innovation and collaboration of the insurance ecosystem managing complex global risk. Following a thorough judging process, Phoenix CRetro was shortlisted, […]
H2 returns drive private ILS funds above cat bond funds for 2023: ILS Advisers
Having already set a new full-year record return by the end of November, the results of the final month of 2023 have lifted the average return of private ILS funds further above catastrophe bond funds, according to the Eurekahedge ILS Advisers Index. As we reported a month ago, the Eurekahedge ILS Advisers Index had already set […]
Hedge Funds’ Mega Returns Set Off Demand Spiral for Catastrophe Bonds
As hedge funds rake in record profits in one of the riskiest corners of the debt market, the products behind those returns are now drawing in more mainstream investors. Catastrophe bonds, which last year formed the basis for the best-performing hedge fund strategy, have been delivering gains that trounce those of other high-risk fixed-income products. […]