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The pension fund handed an ILS mandate to Hiscox in September 2023. -
Retained earnings resulting from reduced loss activity also helped to boost ILS capital.
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The group has also scaled back holdings with AlphaCat’s Soteria Fund.
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The platform distributed ~$50mn to investors for 2023.
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The fund will follow an existing Twelve strategy and add short-term corporate bonds.
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The Cayman Islands entity raised $2.4mn last June.
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ILS platform London Bridge II has had a good year as volumes reached $750mn, the CFO said.
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It is only the second year in the last eight that the allocation grew.
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Head of alternatives Gareth Abley believes the asset class remains attractive following a 16% return in 2023.
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The firm was founded in 2015 to help clients raise capital.
