AlphaCat Managers, Ltd., the third-party reinsurance capital management unit of Validus Holdings Ltd., has seen its insurance linked assets under management increase to $2.7 billion at January 1st 2017, up 8% in a year.
Third-party investor assets under management have increased by 20% during the period, from $2.1 billion at the start of 2016 to now sit at $2.5 billion.
The manager explained that it has now accepted its first third-party capital into its BetaCat ILS Funds, a strategy which seeks to track the catastrophe bond market’s return and that previously remained solely capitalised by Validus itself as it built out the portfolio.
Lixin Zeng, Chief Executive Officer of AlphaCat Managers, commented on the news; “We are pleased with the strong level of investor support for the AlphaCat business and continued success in growing assets under management.
“The increased size of AlphaCat reflects well on the strength of the AlphaCat/Validus underwriting platform, the skill of our analytical team and the infrastructure we have developed to manage third party capital.”