Leadenhall Capital Partners LLP

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.

Leadenhall Capital Partners LLP - snapshot

  • ILS manager or company name: Leadenhall Capital Partners LLP
  • Location (HQ / Domicile): London
  • Date of launch: Nov 2008
  • Assets under management *: $5.5 billion (AuM as at January 1st 2019)
  • Website link: Leadenhall Capital Partners LLP website

Leadenhall Capital Partners LLP - Details

Company profile:

Discretionary investment management service provider which manages open ended funds and managed accounts. The firm invests in life and non-life insurance linked risk.

Leadenhall is a joint venture with MS Amlin (one of the largest reinsurers in the London market), but it is independently managed by its staff

Team size and structure:

23 people in total, 8 partners as at January 1st, 2018, and 15 employees.

Number of strategies (how many funds, sidecars or strategies):

6 different open ended funds, besides closed managed accounts.

Offers private managed accounts?

Yes

Strategy:

Leadenhall’s strategies are currently dedicated solely to managing portfolios of insurance linked risk. The strategies vary over the funds which we manage, but overall we assemble portfolios which attempt to optimise the risk/reward balance, within the targeted risk parameters of the Fund.

Assets under management development (year-end):

2008: $75 million, 2009: $103 million, 2010: $116 million, 2011: $246 million, 2012: $866 million, 2013: $1.6 billion, 2014: $1.8 billion, 2015: $2.4 billion, 2016: $3.5 billion

Leadenhall Value Insurance Linked Investments Fund PLC

The Fund focuses solely on non-life insurance linked investments and is expected to be invested predominantly in the natural catastrophe arena. Our strategy is to assemble a portfolio which attempts to optimise the risk reward balance, within the targeted risk parameters of the Fund.

The strategy seeks to avoid diversifying investments with minimal returns, which could affect the overall profitability of the portfolio, with as a result a degree of concentration of risk in those perils, areas and transactions which offer the best risk/reward conditions.

We use a portfolio approach and specialist software to monitor the correlation between existing and potential new investments to ensure full exposure per event is constantly monitored and optimised via trading and hedging. A cornerstone of our portfolio management strategy is to track attractively priced assets and to exploit market opportunities through opportunistic trading.

Type of investment strategy (fund, sidecar etc):

Open-ended

Launch date:

Sep 2009

Latest AuM:

$959.5 million (as of 30th Nov 2017)

Underlying asset types:

Insurance Linked Securities, Cat swaps/transformed Industry Loss Warranties, Transformed collateralised reinsurance and retrocession private placements

Target return:

Target return of floating rate base + 10% per annum net of fees in current market conditions (in absence of losses). Portfolio expected loss guidance of 5% (RMS version 15)

Leadenhall Diversified Insurance Linked Investments Fund PLC

The Fund focuses on non-life and life insurance linked investments but is currently expected to be invested predominantly in the natural catastrophe arena. Longevity risk is excluded from eligible investments.

Our strategy is to assemble a portfolio which attempts to optimise the risk reward balance, within the targeted risk parameters of the Fund. Whilst doing this, the strategy seeks to limit the impact of a single event on the overall Fund, and avoiding diversifying investments with minimal returns, which could affect the overall profitability of the portfolio, unless necessary to comply with the targeted portfolio concentrations of the fund.

We use a portfolio approach and specialist software to monitor the correlation between existing and potential new investments to ensure full exposure per event is constantly monitored and optimised via trading and hedging. A cornerstone of our portfolio management strategy is to track attractively priced assets and to exploit market opportunities through opportunistic trading.

Type of investment strategy (fund, sidecar etc):

Open-ended

Launch date:

Sep 2009

Latest AuM:

$737 million (as of 30th Nov 2017)

Underlying asset types:

Insurance Linked Securities, Cat swaps/transformed Industry Loss Warranties, Mortality swaps and life insurance securitisation, Transformed collateralised reinsurance and retrocession private placements

Target return:

Target return of floating rate base + 5% p. a. net of fees in current market conditions (in absence of losses). Portfolio expected loss guidance of 2.5% (RMS version 15)

Leadenhall Life Insurance Linked Investments Fund PLC

Type of investment strategy (fund, sidecar etc):

Open-ended

Launch date:

Sep 2012

Latest AuM:

$388 million (as of 30th Nov 2017, and adjusted with a known subscription after Nov)

Target return:

2% – 3%

Leadenhall UCITS ILS Fund PLC

Type of investment strategy (fund, sidecar etc):

Open-ended UCITS

Launch date:

December 2015

Latest AuM:

$221 million (as of 30th Nov 2017)

Underlying asset types:

Catastrophe bonds only

Target return:

4.5%

Leadenhall Nat Cat Focus Insurance Linked Investments Fund ICAV

The Fund focuses solely on non-life insurance linked investments and is expected to be invested in the natural catastrophe arena. Our strategy is to assemble a portfolio which attempts to optimise the risk reward balance, within the targeted risk parameters of the Fund.

Type of investment strategy (fund, sidecar etc):

Open-ended

Launch date:

Dec 2016

Latest AuM:

$126 million (as of 30th Nov 2017)

Target return:

Target return of 6% – 7%

Leadenhall Remote Risk Insurance Linked Investments Fund ICAV

The Fund seeks to optimise its risk and return profile within the constraints of its investment guidelines and by focusing on the lower risk layers in the insurance linked risk towers.

Type of investment strategy (fund, sidecar etc):

Open-ended

Launch date:

Jan 2018

Latest AuM:

$22.5 million (as of Jan 2018)

Target return:

Target return of 3% – 4%

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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 listing.