Icosa Investments AG
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.
Icosa Investments AG - snapshot
- ILS manager or company name: Icosa Investments AG
- Location (HQ / Domicile): Switzerland
- Date of launch: Jan 2024
- Assets under management *: $800m (As at Dec 2025)
- Website link: Icosa Investments AG website
Icosa Investments AG - Details
Company profile:
Icosa Investments AG is a Switzerland-based company with a focus on alternative fixed income strategies. Its mission is to provide access to superior risk-adjusted returns to our investors. Icosa Investments AG, along with its partners, focus solely on investment strategies that either exhibit uncorrelated returns or which provide significant return enhancements over traditional fixed income instruments.
The company was founded by a team of experienced professionals who are leaders in their respective industries. With a market-leading track record, Icosa Investments specialises in alternative fixed income strategies for institutional investors across the globe. The firm is led by Florian Steiger, an experienced alternative fixed income and cat bond specialist, who started his career at Goldman Sachs in the structured credit business. He has previously managed the world’s largest cat bond UCITS fund, noted for its industry-leading performance on multiple occasions.
Strategy:
All Icosa products are managed via MRB Fund Partners AG, a regulated partner company. These strategies are designed with an investment process that maximises risk-adjusted returns, prioritising liquidity and transparency. Capital is committed only when the structured investment process, complemented by the proprietary Icosa cat bond rating framework, ensures a comprehensive understanding of the quantitative and qualitative aspects of each transaction. By integrating top-down and bottom-up analytical approaches, our strategies can ensure that investment decisions are well-informed, objective, and in sync with prevailing market trends.
Icosa Investment Umbrella Fund – CAT Bond Fund
The Icosa CAT Bond Fund is a UCITS strategy that offers professional and institutional investors access to the attractive risk premia of the cat bond asset class, with weekly liquidity.
The fund strategy adopts a market-like risk profile, which Icosa Investments believes continues to offer the optimal balance between risk and return for most investors.
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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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