Swiss Re Insurance-Linked Fund Management

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ILS Fund Services Ltd. passes $3 billion of client assets administered


ILS Fund Services Ltd. (ILS), the Bermuda licensed specialist in hedge fund administration and valuation services for insurance-linked securities (ILS) funds, has grown its assets under administration to $3 billion, with services provided to 27 ILS funds.

“We are extremely proud of this achievement and very thankful to our clients that have supported and grown with us since we opened our doors for business in early 2012,” commented one of the founders and directors, Brian Desmond.

“It’s been a busy and exciting time in the ILS space the last few years and we see this trend continuing for the foreseeable future. Our growth in assets reflects the success of our clients and our commitment to providing exceptional service and also proves that the model we set up, a Fund Administrator with a deep understanding of reinsurance transactions and valuation, works and is considered huge added value and cutting edge by ILS fund managers and investors alike,” Desmond continued.

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.

The firm has grown its assets under administration steadily since then, with $1 billion reported in August 2013, to the $3 billion reported today. The firm’s focus on the ILS asset class and its location in the leading reinsurance capital markets jurisdiction of Bermuda has secured its standing as service provider of choice for insurance linked securities funds.

Currently, all of ILS Fund Services’ clients are Bermuda registered companies that invest in catastrophe bonds, industry loss warrants (ILW’s), sidecars, collateralized reinsurance, and other insurance linked securities.

“We are delighted this initiative has been so successful in such a short period of time and that our clients appreciate the level of service that we can provide them from both a fund administration and valuation perspective,” added Andre Perez, also founder and director of ILS Fund Services.

“Having a thorough understanding of the ILS market and the specific fund related needs has certainly enabled us to provide value to each of our client relationships and given ILS Fund Services the ability to shape “best practices” for fund administration for this investment strategy,” Perez explained.

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