PGGM, the Dutch pension investment manager that allocates the largest amount to the insurance-linked securities (ILS) market on behalf of end-client the Dutch pension PFZW, ended 2023 with just over US $9 billion in ILS assets under management, as a slight uplift in capital deployed in euro terms and currency rates lifted AUM to a new high in USD.
PGGM has built out more allocations through one of its more recently launched insurance-linked securities (ILS) initiatives, the Nightingale Re Ltd. private mandate vehicle.
Through Nightingale Re Ltd., PGGM aims to partner directly with those needing reinsurance capital, entering into private transactions that can be significant in size.
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