Ontario Teachers Pension Plan
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The Canadian pension plan put its Lloyd’s portfolio under review earlier this year.
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The ILS allocator has invested in the asset class over 17 years.
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The Canadian pension plan Ontario Teachers’ will support three Lloyd’s syndicates – CFC, Beazley and Beat – via its initial deal.
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The new London Bridge framework is less useful to the bulk of specialist ILS asset managers than it is end investors.
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Chang helps manage the fund’s ILS portfolio, reporting to ILS director Philippe Trahan.
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Ontario Teachers’ kept its C$150mn ($85.60mn)-plus investments in DaVinci Re, the Hudson Catastrophe Fund and Kyobo last year as it cut capacity for 2019.
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Apollo committed an additional $700mn of equity capital to Catalina on completion of the buy-in deal.