Pillar Capital Management Limited

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.

Pillar Capital Management Limited - snapshot

  • ILS manager or company name: Pillar Capital Management Limited
  • Location (HQ / Domicile): Bermuda
  • Date of launch: Jun 2008
  • Assets under management *: $1.733 billion (As of Jan 1 2020)
  • Website link: Pillar Capital Management Limited website

Pillar Capital Management Limited - Details

Company profile:

Pillar Capital Management Limited (“Pillar”) is a Bermuda based incorporated independent investment manager dedicated to investing in insurance related instruments.

Team size and structure:

13 employees.

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

2

Offers private managed accounts?

Yes

Strategy:

Pillar’s core investment strategy involves taking risk through indemnity-based reinsurance transactions and committing at least 70% of capital through traditional reinsurance contracts on a collateralized basis. The funds are ‘buy and hold’ funds that invest in non-life insurance risk, predominantly property catastrophe risk – wind, earthquake, tornado, etc. Pillar operates as an independent manager, with 50% of its ultimate parent being owned by management and 50% being owned by a public company with an A+ S&P rating and with nearly $8bn of shareholders’ equity.

Pillar Capital Management Limited (“Pillar”) –

  • Offers investors the potential for attractive risk-adjusted returns that have little to no correlation to the financial markets and favorable liquidity terms;
  • Offers investors direct access to the reinsurance market in “fund form” in order to create optimized risk profiles to match investor risk appetite;
  • Has a 11+ year track record managing ILS strategies;
  • Has a team who have focused their careers in the reinsurance market, with senior professional experience averaging 20+ years;
  • Creates portfolios that seek to maximize return vs. acceptable tail risk;
  • Applies consistent pricing standards for all risks in the portfolio;
  • Is an SEC Registered Investment Advisor (“RIA”);
  • Maintains a compensation structure which creates a direct alignment of interest between the investment manager/ team and the investors;
  • Retains an independent valuation agent as part of the year-end procedures and at other times during the year.

Pillar commenced operations in early 2008 with the Juniperus Insurance Opportunity Fund Limited. Pillar launched Pillar Value Fund Limited on January 1, 2013, and Pillar Strategic Fund Platform Limited on January 1, 2019. Investments are from 150+ investors ranging from funds of funds, pensions, institutions, family offices and high net worth individuals. Mr. Velotti, CEO/CIO has been responsible for the Fund’s investment strategy from inception.

The Manager sources business across a broad spectrum of brokers and intermediaries. This market access is made possible and enhanced by the Management team’s long-term relationships. As part of its liquidity management, the Manager invests in catastrophe “CAT” bonds (private placements that trade on a secondary market).

———————————————————————
Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Print Friendly, PDF & Email

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 listing.