The insurance-linked securities (ILS) and third-party reinsurance capital business of Validus Holdings, AlphaCat, increased its assets under management to $2.9 billion in Q1 2017.
The increase over Q4 2016’s $2.7 billion in assets under management was thanks to capital inflows from third parties, which increased by $200 million during the following three months.
Third-party assets under management at AlphaCat stood at $2.7 billion on 1 April, up from $2.5 billion.
Higher third-party capital inflows into AlphaCat helped Validus to write more reinsurance premiums.
Validus ceded $200.1 million in reinsurance premiums for the three months ending 31 March, an increase of $32.3 million over the same period in 2016. “The increase was primarily driven by increases in the Validus Re, Talbot and AlphaCat segments,” Validus said.
AlphaCat's revenue was down slightly year over year, with $5.3 million recorded for the first three months of 2017. The same three period in 2016 yielded $5.6 million in revenues.
