An undisclosed Nordic institution has started searching for a manager with an Insurance-linked Securities (ILS) / CAT Bond fund to a potential (initial) investment of USD 30-50m on the platform Global Fund Search. This figure is expected to grow significantly over time, according to the announcement.
The value of Insurance-linked Securities depends on an insured loss event. The asset class encompasses private transactions and publicly traded catastrophe bonds (cat bonds), which are debt instruments designed to raise money for companies in the insurance industry in the event of a hurricane, an earthquake or some other type of natural disaster.
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