Schroder Secquaero

The fund will promote environmental and social characteristics under Article 8 of the SFDR.

A market-wide loss of $700mn would amount to around 15% of the total amount of life ILS assets under management .

The US pension fund heard pitches from four ILS manager finalists at its board meeting in May in a selection process following a request for proposals issued last October.

The cat bond market has benefited from hardening rates and more remote structures.

The life segment has shifted from its genesis in mortality and morbidity risk transfer as lapsed risk deals have proliferated.

The ILS manager’s analysis highlighted that Lloyd’s nat cat exposure had lowered over the six years to 2021.

The outcomes were better than the Swiss Re global cat bond index decline after the major hurricane.

Some might see the ILS sector as more institutionalised compared to personality-driven hedge funds, but there is little doubt that the original generation of ILS leaders will be hard to replace.

Cat bonds have built-in protections against the threat of inflation, Schroders ILS chairman Dirk Lohmann has argued.

The Zurich-based ILS manager expects to be underwriting some specialty business from 2022.

It will also encompass impact investment manager BlueOrchard, although the microfinancier will keep its independent identity.

She will leave Schroders at the end of the month after spending more than seven years at the company.