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.
Cartesian Re - Snapshot:
- ILS manager or company name: Cartesian Re
- Location (HQ / Domicile): New York
- Date of launch: 2009
- Assets under management *: > $550 million (at Nov 1st 2016)
- Website link: Cartesian Re website
Cartesian Re - Details
Cartesian Re was formed in 2009, and is an affiliate of Cartesian Capital Group, a global private equity firm with more than $2 billion under management.
Cartesian Re’s risk-focused philosophy uses established third party catastrophe risk models, supplemented by scientific expertise and short-term climate and seismic observations to adjust its portfolio and optimize returns.
Cartesian Re focuses primarily on Industry Loss Warranty (“ILW”) contracts. ILWs provide investors with attractive returns that are not correlated with broader financial markets while minimizing the ancillary risks of:
- Credit risk: Counterparty obligations are fully funded and held in a third-party trust
- Collateral risk: Trust can only hold cash and US Treasuries
- Adverse selection: Investment outcomes are based on industry-wide losses not the exposure of a specific counterparty
- Liquidity risk: Trusts automatically liquidate at the conclusion of the ILW term and cash is distributed by trustees in accordance the ILW contract
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