Sompo Canopius prepares to mint ILS fund

Sompo Canopius is poised to put in motion fundraising for an
insurance-linked securities (ILS) fund that will take on a portion
of its catastrophe reinsurance book, The Insurance
Insider can reveal.
The initial sum targeted through the fundraising is likely to be
about $100mn, although there would be an ambition for it to grow
substantially beyond this level.
Sompo Canopius had already been weighing the creation of such a
vehicle, but its plans are set to be accelerated following
hurricanes...