Kiskadee Investment Management

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.

Kiskadee Investment Management - Snapshot:

  • ILS manager or company name: Kiskadee Investment Management
  • Location (HQ / Domicile): Bermuda
  • Date of launch: Jan 2014
  • Assets under management *: $850 million (As at Jan 2016)
  • Website link: Kiskadee Investment Management website

Kiskadee Investment Management - Details

Team size and structure:
3 dedicated staff with service agreements with Hiscox Group.
Offers private managed accounts?

Yes

Strategy:

Kiskadee offers 2 strategies from launch in January 2014 – Kiskadee Diversified and Kiskadee Select open-ended co-mingled funds – offering attractive investment opportunities in a non correlated and diversified global catastrophe portfolio.

Kiskadee Select targets net returns in years with low catastrophe activity of 16% with targeted mean net returns of 8-9%.

Kiskadee Diversified targets 10% with targeted mean net returns of 5-6%.

Both funds offer a comparatively low 1/100 year (99th percentile) downside.

Through Kiskadee’s affiliation with Hiscox, a leading global reinsurer and insurer, the funds have access to and ‘co-invest’ alongside Hiscox’s global reinsurance portfolio. Currently investors participate on a significant number of reinsurance programmes only shown to top tier reinsurance providers as well as accessing diversifying perils from a variety of protection buyers from across the globe, not just in peak zones.

The Kiskadee investment team independently selects the risks that best suit the funds’ return and diversification parameters, tailored to investor requirements. Kiskadee’s experienced management team has excellent risk selection expertise, with a proven track record of managing a variety of insurance cycles and economic conditions.

Hiscox underwrites tail risk protection to the funds, enabling less than 100% collateralisation, thus enhancing risk adjusted returns as compared to fully collateralised investment vehicles.

Hiscox has invested US$50 million in the funds and also participates in all programmes placed into the funds. Hiscox has already successfully managed alternative capital in its Lloyd’s business for over 100 years and currently manages over $4 billion of catastrophe quota share capacity on behalf of investors.

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