The Healthcare of Ontario Pension Plan (HOOPP), a large Canadian institutional retirement fund, put additional capital into insurance-linked securities (ILS) in 2023, lifting its investments in the space above US $1 billion for the first time and growing them over 40% year-on-year.
A year ago, HOOPP’s annual report showed that the pensions insurance and reinsurance investment fund allocations had reached C$973 million (approx. US $718.7m), up from C$721 million (approx. US $575m) at the end of 2021.
Now, at Dec 31 2023, the Canadian pension plan reports that its ILS allocation has now reached $1.366 billion, an increase of just over 40%.
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