Swiss Re Insurance-Linked Investment Management Ltd (SRILIM) successfully partnered with Sweden’s largest private pension fund Alecta to secure an investment of USD 250 million in its 1863 fund platform.
SRILIM, the investment manager of the 1863 fund platform and fully owned subsidiary of Swiss Re Ltd, secured a substantial investment of USD 250 million from Swedish pension fund Alecta, which manages assets of approximately 2.6 million customers. Through the capital efficient fund format, Alecta can participate in Swiss Re’s natural catastrophe business and benefit from significant diversification potential as well as Swiss Re’s risk knowledge and underwriting expertise.
Martin Bisping, CEO of SRILIM, said: “We are very excited to have Alecta as a strategic partner. This marks a significant milestone, particularly in terms of asset raising, in the still young history of our 1863 fund platform, which achieved strong investment performance since its launch a year ago. I am confident that we will accelerate this positive momentum, as we continue to broaden our partnerships with alternative capital investors, such as Alecta.”
Tony Persson, Head of Fixed Income and Strategy at Alecta, said: “Our primary focus is on generating attractive long-term returns for our customers. We manage our assets in an efficient and sustainable manner, working with few select partners where we see relevant investment opportunities. We are convinced that insurance-linked securities can generate high-quality and uncorrelated returns and are pleased to partner with Swiss Re to benefit from its extensive expertise in this domain. We look forward to a long-lasting collaboration.”