Hiscox: Strong Inflows To Kiskadee ILS Funds
Hiscox Ltd. announced that total assets under management in its Kiskadee insurance-linked strategies [ILS] funds, have grown to over $400 million at 1 January 2015.
The company said, “Commitments from existing investors have been complemented by strong inflows from new investors, and Kiskadee has also received firm commitments of additional capital for deployment between now and the summer 2015 reinsurance renewal season.
“The Kiskadee Diversified Fund Ltd and Kiskadee Select Fund Ltd are actively managed open-ended Bermuda domiciled funds. The Kiskadee funds offer investors greater capital efficiency and market access than traditional direct collaterelised ILS funds through their alignment with Hiscox. This structure enables the construction of investible portfolios from a broad and more diverse universe of reinsurance and retrocession risks.”
Jeremy Pinchin, CEO, Hiscox Re, commented, “Our Kiskadee funds combine superior risk selection with diversified market access provided by the Hiscox Group. We believe this is a truly distinctive offering and so are pleased at the enthusiastic response from new and existing investors.
“Hiscox has a long history of managing alternative forms of capital. Kiskadee is a natural continuation of working with like-minded, long-term partners and offering enhanced solutions to our reinsurance clients.”
