Swiss Re Insurance-Linked Fund Management

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Leadenhall raises further $50m for insurance-linked securities funds


Leadenhall Capital Partners are really on a capital raising push lately. Earlier this month we reported that they’d raised an additional $50m for their Leadenhall Value Insurance Linked Investments Fund to take advantage of the 1st June renewals. Now an email from their CEO Luca Albertini tells us they’ve raised another $50m.

The latest $50m is destined for their Leadenhall Diversified Insurance Linked Investment Fund, a broader based fund which offers investors exposure to a wider range of territories and perils than the Value fund. We presume that the capital will be deployed during the 1st July renewals.

The Diversified fund while predominantly non-life can also allocate up to 20% of its assets to life risks (excluding longevity and life settlements) and Mr Albertini suggests they will be looking at what opportunities are available in the life market. The other opportunities being looked at to deploy the $50m of new capital include insurance-linked securities, catastrophe swaps and also private placements. The aim is to achieve the right mix of perils/risks, territories and triggers to keep the fund well diversified.

Both of the Leadenhall funds are now valued at over $100m with their total assets under management at just over $210m. The total contribution of capacity the two funds make to the convergence market totals over $260m. Mr Albertini told us that they have a balanced investor profile with the capital coming almost equally from insurance sources and pension fund sources.

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