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Florida State Board allocated $398m to ILS for 1/1, across Aeolus, Pillar, RenRe

The Florida State Board of Administration, which manages the states massive roughly $180 billion Florida Retirement System Pension Plan, has allocated $398 million to reinsurance and retrocession opportunities across three ILS managers in time for the January renewals.

The Florida State Board of Administration was already allocated to insurance-linked securities (ILS), for the Florida Retirement System Pension Plan, with around $950 million invested in the market as of the middle of 2023.

But, as we reported around that time, the target was to increase the allocation to around the 1% of assets level, which would imply a significant scaling-up of its ILS and reinsurance investments.

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