We could soon see the launch of the first Scandinavian based insurance-linked securities and catastrophe bond fund manager, if the efforts of a Swedish manager and his team are successful.
Robert Lindblom, former CEO of Brummer Life, the life insurance arm of Swedish hedge fund manager Brummer & Partners, has had several meetings with re/insurance companies, European ILS managers and analysts.
The object of these meetings and the European tour seems to be to investigate the possibility, and market appetite, to establish the first Scandinavian ILS management company.
“We are presently in an exploratory phase in the development of this initiative,” Mr Lindblom commented when asked about his plans.
“We know that Swedish investors, as those in other parts of the world, are presently looking out for new investment opportunities, given the uncertainties in the stock market and the global financial situation,” Mr Lindblom told Artemis.
Mr Lindblom leads a team of seven people, representing a wide array of expertise from meteorology to reinsurance and capital markets, in exploring the conditions for a Swedish based ILS investment company. Though reluctant to disclose any details on his plans, he did explain that the team is primarily focusing on the retail market.
“I think opportunities for new managers are outside the tier one market. Large institutions already have specialized functions and partners enabling them to act independently. However, private investors still lack access to the market,” Mr Lindblom said.