The California Public Employees’ Retirement System, or CalPERS as it is better known, is exploring ways to increase its exposure to insurance-linked securities, which are seen as one asset class that can contribute towards its goal to invest $100 billion in climate solutions by 2030, according to a Bloomberg report.
CalPERS is one of the largest institutional investors in the world, with total assets under management of around $637 billion reported at the mid-year and the pension fund began allocating to catastrophe bonds and insurance-linked securities (ILS) in 2025.
The pension established three access points to the asset class, via three specialist ILS investment managers, with collateralized reinsurance through Integral ILS, catastrophe bonds through Swiss Re Insurance-Linked Strategies and quota share reinsurance through Tangency Capital.
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