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TransRe & AmWINS back launch of new ILS manager Integral

3rd July 2020 - Author: Matt Sheehan

TransRe and AmWins have been confirmed as backers for the launch of Integral ILS Ltd., a new Bermuda based insurance-linked securities (ILS) fund manager.

Representatives from Integral informed our ILS-focused sister publication, Artemis, that the company has launched but remains in the early stages of development.

The fund manager is preparing to deploy capital by January 2021 with support from TransRe and AmWins, who will both take stakes in the company.

TransRe already owns a stake in ILS manager Pillar Capital, as well as its own TransRe Capital Partners division, while AmWINS has experience using its direct risk origination to channel business to ILS capital.

The backing of these two re/insurers is expected to assist Integral ILS in gaining access to re/insurance business, as well as fronted access to the open market, which TransRe also has some experience in.

The senior leadership at Integral ILS will be Richard Lowther, ex-Managing Principal of Hiscox ILS and Lixin Zeng, ex-CEO of AIG’s AlphaCat ILS unit.

They will be joined by Matthew Swann, Adriaan Van der Merwe and Emily Birrell, all of who are former Hiscox ILS employees.

Integral ILS remains focused on capital raising for now, but hopes to begin deploying capital and building a portfolio ahead of the January 2021 renewals.

Catastrophe risks will be the main focus and it will write insurance, reinsurance and retrocession, sources confirmed, with a special purpose insurer (SPI) likely to be utilised to begin with.

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