Monday, 4 May 2015
Last updated 9 hours ago
Mar 12 2010 | 8:01am ET
A group of British pension funds has poured US$340 million into a catastrophe reinsurance hedge fund.
The allocations were made by 11 U.K. pensions in the second half of last year to the US$2.6 billion fund, managed by Nephila Capital. The Man Group owns 25% of Bermuda-based Nephila.
“Insurance payouts for damages caused by hurricanes Gustav and Ike and the heavy investment losses and liquidity constraints brought about by the financial crisis have led to a major market shakeout,” Nephila’s Greg Hagood told Investment & Pensions Europe. “Remaining participants, such as Nephila, have therefore been able to capitalise on this opportunity and charge higher catastrophe premiums.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…