The target investment allocation range for the Mt. Logan Capital Management, Ltd. quota share structure named Scenery Re has been increased for the insurance-linked securities (ILS) portfolio managed by PGGM, the Dutch pension fund investment manager, on behalf of its end-client pension PFZW.
This comes as two of the private collateralized reinsurance sidecar structures that PFZW has been investing in are reportedly being downsized, resulting in the pension fund’s target allocation ranges for Munich Re and Swiss Re operated sidecars now having shrunk.
PGGM, the Dutch pension investment manager first allocated US $200 million to Scenery Re on behalf of its client pension PFZW in 2024, with the vehicle managed by Everest-owned specialist third-party reinsurance capital management unit Mt. Logan Capital Management.
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