SCOR Investment Partners, the asset management company of the global reinsurance group SCOR, has now completed the integration of London based ILS fund manager Coriolis Capital Limited, which takes the firms overall insurance-linked securities (ILS) assets under management to over US $2.6 billion.
SCOR Investment Partners agreed to acquire 100% of Coriolis Capital, which was one of the first ever investment managers in the ILS sector, back in May 2019.
The acquisition was completed in September of that year, since which the asset management arm of the global reinsurance firm has been integrating its operations alongside its existing ILS and collateralised reinsurance specialist team.
Now, that integration process has also been completed and the firms newly formed SCOR Investment Partners ILS platform counts over US $2.6 billion of ILS assets under its management, with operations now split across Paris and London.
In addition, the SCOR Investment Partners ILS platform has pooled its expertise and resources, while Head of ILS Sidney Rostan will lead the group.
In addition, former Coriolis Capital founder and CEO Diego Wauters will act as a Senior ILS Adviser to the group.
The company explained that the newly expanded platform will enable it to “meet the needs of existing and potential investors in accordance with applicable local regulations.”
François de Varenne, CEO of SCOR Investment Partners, commented, “I welcome this new step taken with the invaluable assistance of Diego Wauters who will act as a Senior ILS Advisor and will continue to bring all of his know-how and extensive knowledge of the market to our ILS platform.
“Under the leadership of Sidney Rostan, we are confident that the SCOR Investment Partners ILS Platform will form the basis for the continued growth and success of our ILS activity. This new set up demonstrates the strategic importance of ILS in our product range and establishes SCOR Investment Partners as a Tier 1 ILS market player.”
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