PGGM, the Dutch pension fund investor that invests in insurance-linked securities and reinsurance on behalf of its end-client Dutch pension PFZW, has revealed a meaningful increase in the target allocation size for its investment into the PartnerRe operated Huygens sidecar structure.
PGGM first allocated to the Huygens structure, which we presume to be a private quota share reinsurance sidecar arrangement, back in 1999, as it added reinsurer PartnerRe to the roster of major global players it was working with to gain broad access to reinsurance-linked returns.
Through Huygens, PGGM invests on behalf of pension PFZW in private insurance contracts on a worldwide basis alongside global reinsurer PartnerRe, with the underlying business having a peak natural catastrophe reinsurance focus.
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