Swiss Re Insurance-Linked Investment Management Ltd. news

Swiss Re has appointed employee Chris Minter as the new Head of its Alternative Capital Partners (ACP) division, as incumbent to the position Philipp Rüede is departing the global reinsurance company.

Swiss Re Insurance-Linked Investment Management Ltd. (SRILIM), a specialist insurance-linked securities (ILS) fund management unit of the global reinsurance company, has now surpassed a new milestone of more than $1 billion in assets under management (AUM).

The catastrophe bond market has seen plenty of “well-informed” capital which has helped to drive volumes this year, while rates in the cat bond market are now a little less “frothy” than they had been at times over the last year or so, Swiss Re’s CFO John Dacey said this morning.

Global reinsurance firm Swiss Re has made a new business development hire within its Alternative Capital Partners (ACP) division, appointing experienced insurance-linked securities (ILS) executive Charles Mixon as Senior Business Development Manager.

Market developments are helping to set the foundations to make catastrophe bonds a much more broadly accepted asset class, according to MariaGiovanna Guatteri, CEO of Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), who feels the asset class remains attractive despite recent tightening.

Swiss Re’s specialist insurance-linked securities (ILS) and third-party reinsurance capital management division, Alternative Capital Partners (ACP), has reported a 68% increase to its fee income earned for the full-year 2023, reaching $195 million.

Swiss Re is benefiting from a shift in insurance-linked securities (ILS) investor strategy, as ILS and alternative reinsurance capital becomes more complementary again, with these benefits set to keep growing, according to Philipp Rüede, Head of Swiss Re’s Alternative Capital Partners (ACP) unit.

The Alternative Capital Partners (ACP) division of global reinsurance giant Swiss Re has seen continued success in fundraising in recent months, with third-party capital under management rising to $3.3 billion over the course of the third-quarter.

Speaking today in Monte Carlo, senior executives from Swiss Re’s reinsurance business unit explained that the firm’s Alternative Capital Partners (ACP) unit is an area where “consistency and continuity” are key, while the firm sees “zero conflicts” between its ACP investors and its equity holders.

Philipp Rüede, Head of Swiss Re’s Alternative Capital Partners (ACP) unit told us in an interview that the outlook for use of alternative capital and for insurance-linked securities (ILS) as an asset class has “significantly improved”, with expected returns now doubled or tripled in some ILS strategies.