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.
FULL ORIGINAL PUBLICATION HERE
