Thursday, 29 January 2015
Last updated 18 min ago
Mar 12 2010 | 8:01am ET
A group of British pension funds has poured US$340 million into a catastrophe reinsurance hedge fund.
The allocations were made by 11 U.K. pensions in the second half of last year to the US$2.6 billion fund, managed by Nephila Capital. The Man Group owns 25% of Bermuda-based Nephila.
“Insurance payouts for damages caused by hurricanes Gustav and Ike and the heavy investment losses and liquidity constraints brought about by the financial crisis have led to a major market shakeout,” Nephila’s Greg Hagood told Investment & Pensions Europe. “Remaining participants, such as Nephila, have therefore been able to capitalise on this opportunity and charge higher catastrophe premiums.”
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…