The Florida State Board of Administration has further diversified its insurance-linked securities (ILS) allocations made on behalf of the Florida Retirement System Pension Plan, with $400 million invested across a quota share reinsurance strategy managed by Tangency Capital and a specialty lines opportunity managed by Nephila Capital.
We had previously suggested that these two specialist insurance-linked securities (ILS) investment managers may ultimately be the beneficiaries of new allocations from the Florida Retirement System Pension Plan, as it was apparent that reinsurance quota shares and specialty lines were in the pipeline for new investments to be made.
The Florida state pension was known to have two new ILS investments in its pipeline around the middle of last year, with both specialty and quota share reinsurance investment strategies expected to be onboarded.
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