ILS Fund Services Ltd., (ILS) a Bermuda licensed specialist in hedge fund administration and valuation services for insurance-linked securities (ILS) funds, has recently exceeded $1 billion of client insurance-linked assets under its administration just 18 months after its launch.
“We are delighted that the services ILS are providing funds that invest in this niche asset class have been well received by the community,” commented Andre Perez, Director of ILS Fund Services Ltd. “Our assets under administration have grown incredibly quickly over the past 18 months and we are optimistic that they will double in the next year. It proves that the model we set up, a Fund Administrator with deep understanding of reinsurance transactions and valuation works and is being extremely well received by Fund Managers and Investors alike.”
ILS Fund Services was formed in November 2011 as a joint venture between established ILS services firm Horseshoe Group and ISIS Fund Services Ltd. a specialist hedge fund and private equity fund administration service provider.
Its client base is largely made up of global institutional investment managers with mandates to invest in alternative reinsurance instruments such as catastrophe bonds, ILWs, sidecars, collateralized reinsurance and other insurance linked derivatives through Bermuda registered investment companies.
With the ILS sector growing fast service companies are finding their offerings increasingly in demand, allowing them to experience rapid growth as capital flows into the ILS and reinsurance convergence space.
Bermuda is a key domicile in these sectors and its regulatory environment combined with an experienced range of specialist ILS service providers makes it a compelling location for insurance-linked securities funds to be administered and serviced..
“The growth that ILS has experienced since we launched the company has exceeded our expectations,” stated Ede Conyers, Director of ILS Fund Services Ltd. “We are extremely proud of the level of service that we currently provide our clients and are committed to exceeding our clients’ expectations. There was a gap in the provision of comprehensive service offerings for insurance linked securities funds which both Horseshoe Group and ISIS Fund Services have successfully filled and helped raise the bar in terms of best practice.”