We’ve reported before that the giant insurance-linked securities (ILS) portfolio managed by PGGM, the Dutch pension fund investment manager, on behalf of its end-client Dutch pension PFZW, had delivered a 15.1% net of costs return for calendar year 2024, on a Euro hedged basis.
That was impressive enough, for a significant ILS investment portfolio that amounted to roughly US $8.7 billion in valuation terms at the end of last year, spanning numerous allocations to catastrophe bonds, private ILS, quota share sidecars and collateralized reinsurance, as well as the earnings generated by a sponsored rated reinsurer balance-sheet.
The PGGM ILS investment team, on behalf of PFZW, has spent years building-out a range of allocations and structures that allow the pension investor to efficiently access the returns of the reinsurance market, at the risk-return levels it desires and with the additional benefits of globally diversified exposures incorporated as drivers of returns.
FULL ORIGINAL PUBLICATION HERE
