Plenum Investments

The firm announced a gross performance of more than 10% on the fund since it was established in late May 2020.

The firm is the first ILS platform to reveal that its funds have the new classification.

The Insurance Capital Fund combines US wind cat bonds with subordinated debt issued by European insurers.

The Zurich-based firm has focused on the cat bond space since launching almost two decades ago.

Plenum’s CEO said the hire of Grieger and a SocGen credit research leader will “unleash significant potential” by adding insurance bond capabilities.

The typhoon made landfall in central Japan on Saturday causing flooding and mudslides.

The brouhaha over trapped ILS capital has led to the question of whether alternative collateral management solutions will emerge.

The ILS fund manager reports that the cost of reinsurance via cat bonds is now “painfully expensive” for some cedants.

The three fires have already destroyed 7,539 buildings, and threaten a further 15,000.

The average second quarter returns for a group of ILS funds tracked by Trading Risk has increased to 1.36 percent, compared with 0.79 percent for the same quarter last year.

Zurich-based ILS manager Plenum has grown its assets under management (AuM) by almost 40 percent since the start of the year, to reach $355mn at the end of April.

The Zurich based asset manager has grown assets under management by nearly 40 percent since January.