The giant more than $9 billion portfolio of insurance-linked securities (ILS) and reinsurance investments managed by 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, delivered a record 18.9% return in 2023.
Riding on the higher premiums being paid in reinsurance and higher spreads of catastrophe bonds, the PGGM / PFZW ILS portfolio benefited significantly, with the ILS and reinsurance mandate one of the best performing segments for the overall PFZW pension portfolio, it seems.
It is by far the best ILS portfolio performance that pension PFZW has experienced and, compared to recent years, a significant elevation of the return from the pensions’ large reinsurance investments portfolio.
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