Swiss Re Insurance-Linked Fund Management

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ILS Capital Management selects SS&C GlobeOp for new reinsurance entity


Prime Management Limited, a Bermuda headquartered insurance-linked securities fund administrator and leading service provider to investment structures, sponsors and managers in the ILS market, has been selected to manage a new reinsurance entity by ILS Capital Management.

Prime Management, a division of SS&C GlobeOp since its acquisition by SS&C Technologies Holdings, Inc. at the start of October, now provides administration and associated services to ten ILS and risk-linked investment managers.

ILS Capital Management has been a client of Prime Management since 2011 and will utilize its specialized collateralized reinsurance and risk-linked investment administration services with both their new reinsurance entity Prospero Re Ltd. and its established ILS investment fund, The 1609 Fund.

“The decision to select SS&C GlobeOp to provide fund administration and risk-linked administration services was an easy one. Our positive experience with Prime combined with the proven institutional strength of SS&C GlobeOp will allow us to focus on business growth rather than administration,” commented Tim Tetlow, President and COO, ILS Capital Management.

“We are committed to supporting customers as they look to generate efficiencies from streamlining and consolidating their operational functions. We are pleased to be able to work with a high quality, established organization such as ILS Capital Management,” added Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “The specialized ILS services we deliver will enable ILS Capital Management to keep its services independent and transparent.”

Prime Management is one of the leading firms offering administration and servicing to investment structures, sponsors and managers in the ILS and reinsurance or risk-linked investments space. Recently Prime Management has been increasing the ILS assets under its administration and servicing through a number of new client and new structure wins.

John Whiley, Head of ILS Administration at Prime Management Limited, told Artemis; “Our ILS assets under administration will surpass $4 billion in early 2014 due to a number of pipeline launches.”

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