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LGT’s insurance-linked strategies team (LGT ILS) has won the “initiative of the year award” by Trading Risk for the innovation of setting up the first collateralized rated reinsurer, Lumen Re Ltd. This step is expected to have a significant impact on the entire ILS industry.
Over the past decade, LGT ILS has continuously worked towards improving the way insurance risks are transferred to capital markets investors. As such, LGT ILS was responsible for a series of innovate approaches to risk transfer, such as the first open-ended Cat Bond fund (2001), the first UCITS Cat Bond fund (2010), the first “Cat Bond Lite” structured note issuance (2010; USD 200m volume) – and now the first collateralized rated reinsurer “Lumen Re Ltd.”.
The judges of the Trading Risk Award 2018 have recognized this innovation which is expected to have a significant impact on the entire ILS industry and we are proud to announce that LGT ILS was awarded with the ‘Initiative of the Year award’ in New York a few months ago.
More details can be found in the media release.