Swiss Re
The Artemis Insurance-Linked Securities Investment Managers & Funds Directory is a one-stop resource for information on insurance or reinsurance linked investment managers and their ILS fund strategies.
Swiss Re - snapshot
- ILS manager or company name: Swiss Re
- Location (HQ / Domicile): Zurich
- Date of launch: 2007 (began managing capital via Sector Re sidecar)
- Assets under management *: $4.8 billion (as at Jan 1st, 2024, including funds and sidecar platform)
- Website link: Swiss Re website
Swiss Re - Details
Global reinsurance firm Swiss Re began managing third-party alternative sources of capital in 2007 through its sidecar platform. The Sector Re sidecar vehicle is now a regular feature of the insurance-linked securities (ILS) market, as a multi-investor, quota share ILS structure.
In 2019, Swiss Re expanded its activities with its first dedicated sidecar structure for a third-party investor, the more than $500 million Viaduct Re structure for Dutch pension fund investor PGGM.
Around this time, Swiss Re launched a new unit Alternative Capital Partners (ACP), reporting directly to the CFO, with a mandate to develop investor relationships and establish the best capital mix for its overall company structure.
Since the beginning of 2019, Swiss Re’s alternative capital under management has grown from just over $1 billion to $4.6 billion (as of September 30th 2023) and it now offers a range of strategies through which investors can participate in the ILS market:
- Strategies which participate in Swiss Re’s core nat cat reinsurance book
- Strategies focussed on cat bonds
- Sidecars (such as Sector Re) and Bespoke Strategies
Of the $4.8 billion in AuM, $3.3 billion is from third-party investors as of January 1st 2024.
Swiss Re Insurance-Linked Investment Management Ltd.
In November 2020 Swiss Re set up Swiss Re Insurance-Linked Investment Management Ltd. (SRILIM), a FINMA authorised asset manager for investment funds.
SRILIM acts as the asset manager for various fund solutions by providing investors access to Swiss Re’s global portfolio of natural catastrophe reinsurance risks.
Swiss Re Insurance-Linked Investment Advisors Corporation
In August 2022, Swiss Re announced the launch of Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), a SEC registered investment adviser.
SRILIAC’s investment strategy focuses primarily catastrophe bonds, thus allowing investors the opportunity to access Swiss Re’s capabilities in catastrophe bond investments, natural catastrophe modelling and underwriting.
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Disclaimer:
The Artemis Insurance-Linked Securities Investment Managers & Funds Directory is provided as-is. Best efforts are made to ensure the contents are accurate at the time of publication but there may be some omissions. Please contact Artemis should you require a change to your ILS manager listing.
*Note: Assets under management are prone to fluctuation so the figures here are either the best available or last submitted by included managers.
It is not always possible for us to track the ‘usable’ assets under management (AUM) of most ILS managers, so the figures above tend to include an element of trapped capital. Few ILS managers report AUM figures that exclude trapped capital, unless they have fronting or other arrangements in front of their ILS funds that allow them to do so more readily.
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