Insight and Intelligence on the London & International Insurance Markets 24 Jan 2018
Cats erode Stone Ridge, Pioneer sidecar funds
- 3 January 2018
Two reinsurance fund managers have announced losses for 2017, providing an early indicator of the impact of second-half cat losses on the insurance-linked securities (ILS) and sidecar market.
Stone Ridge said today that its two reinsurance funds reported losses of 4.85 percent and 9.00 percent, respectively, in the financial year ending 31 October.
Stone Ridge CEO Ross Stevens said in his annual letter to shareholders that $1bn had flowed from the firm's reinsurance funds to meet claims from the Californian...
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