Swiss Re has announced the consolidation of its insurance-linked securities (ILS) investment management operations into a single platform.
The reinsurer said that the move will unite Swiss Re Insurance-Linked Investment Advisors Corp. (SRILIAC) and Swiss Re Insurance-Linked Investment Management AG (SRILIM) under the management of SRILIAC.
According to Swiss Re, the integration will provide investors with access to its full suite of ILS products through one manager. The company said the new structure is intended to enhance access to Swiss Re’s investment products, data, portfolio analytics, and the underwriting experience of its catastrophe bond team.
Swiss Re manages approximately US$5 billion in ILS assets. The company also co-manages a UCITS (undertakings for collective investment in transferable securities) fund with GAM, which accounts for about US$2 billion in assets under management.
SRILIAC, established in 2022, is a US Securities and Exchange Commission-registered investment adviser focused on ILS, primarily catastrophe bonds, and provides investment management services to institutional investors.
The company noted that, in addition to co-managing the UCITS fund with GAM, SRILIAC will eventually take over SRILIM’s investment management activities. Through the transition to a single platform, SRILIAC will offer investors access to Swiss Re’s core natural catastrophe reinsurance portfolio.
The combined business will be led by Mariagiovanna Guatteri (pictured above), currently chief executive officer and chief investment officer of SRILIAC. Guatteri joined the company in 2003 and has more than 20 years of experience in catastrophe bond portfolio management and natural catastrophe modeling.
In other leadership news, Swiss Re recently appointed Bernhard Kaufmann as group chief risk officer, effective October. Kaufmann, who previously served as group CRO at Helvetia, brings 17 years of senior risk experience in the re/insurance sector. He succeeds Patrick Raaflaub.
Swiss Re also announced a series of leadership changes in Europe. Hernan Fatone was named head of Southern Europe property/casualty reinsurance and will serve as country president for Spain, pending approvals. In addition, Santiago Arechaga was promoted to president of reinsurance Latin America and Caribbean.
In a separate development, Robin Spencer was appointed chief operating officer for Swiss Re’s Life and Health Reinsurance business unit. Based in London, Spencer is responsible for overseeing global L&H Re operations, with a focus on operational efficiency and the integration of technology-driven solutions.
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