Tue, May 26, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Opalesque Radio

Investing in Illiquid Collateralised Reinsurance Contracts vs. Cat Bonds
Radio Feature 82: Sona Blessing in conversation with Michael Stahel
 
Monday, August 12, 2013

radio Michael Stahel is a partner and portfolio manager at LGT Insurance-Linked Strategies in Switzerland, which has already raised USD 400 million from three pension fund mandates this year.

He played a key role in LGT’s acquisition of Clariden Leu’s Insurance-Linked Investments boutique in Q1 2012. In his current role, Michael maintains the responsibility for the main investment strategy for all insurance-linked funds and mandates.

In this podcast he elaborates on market developments within the insurance linked securities space and shares his insights on the observed shift towards investing in illiquid collateralised reinsurance contracts...

 Download this feature as MP3 (31.35 MB)

 
Listen to the complete feature
Investing in Illiquid Collateralised Reinsurance Contracts vs. Cat Bonds

Duration: 13:42 

  logo

Or listen to selected sub-features
  • Q1 - Can you give us a sense of and update us on the developments in the insurance linked securities space

    Duration: 02:33 


  • Q2 - What sort of "hazards" (life/non-life) are being reinsured?
    Could you elaborate on the catastrophe - natural/man made; geography; pandemic?

    Duration: 02:19 


  • Q3 - From the perspective of an investment manager, why is it more challenging to enter into direct contractual agreements?

    Duration: 01:41 


  • Q4 - Beyond pension plans, which other investors are investing in insurance linked strategies? What is the duration and expected yield for such an investment?

    Duration: 01:48 


  • Q5 - Could you elaborate on the differences, and also compare the duration and expected yield of investing in illiquid collateralised reinsurance contracts vs. for e.g. in "liquid" cat bonds?

    Duration: 01:53 


  • Q6 - Is there a capturable illiquidity risk premium and would you say it is commensurate?

    Duration: 01:03 


  • Q7 - What is the scope of investing in such strategies, and what is the investible market capacity going forward?

    Duration: 02:25 



Radio Link
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Comment - Top hedge fund managers talk about how easy their jobs have gotten, BlackRock to Schroders warn of Argentina’s $20bn bond glut, The 35-year “investment supercycle” is drawing to a close, says Bill Gross, Gundlach: When the Fed starts hiking rates, 'GET OUT' of this asset class[more]

    Top hedge fund managers talk about how easy their jobs have gotten From Businessinsider.com.au: Time was, before the financial crisis hit, corporate boards treated multi-billion dollar hedge fund managers like Jehovah’s Witnesses pounding on their doors and flashing bibles. But no more.

  2. T Rowe's challenge to Dell deal may fuel critics of 'appraisal'[more]

    From Reuters.com: An increasingly popular tactic used by hedge funds and others to extract more money from buyouts could soon face a major courtroom test when a big investor in Dell Inc may argue that it should be paid a higher price for the 2013 acquisition of the PC maker. The strategy, known as "

  3. News Briefs - Ergen says LightSquared plan unfairly favors hedge funds, Why hedge fund managers make good advisory clients, I learned a lot about dad-bros after spending 4 days in Vegas with 2,000 hedge funders[more]

    Ergen says LightSquared plan unfairly favors hedge funds LightSquared Inc.’s bankruptcy plan gives hedge funds that invested in the broadband company a leg up while blocking telecommunications firms from competing with it, a fund owned by Dish Network Corp. Chairman Charles Ergen said in

  4. Opalesque Exclusive: SEC approves proposed changes to Form ADV, '40 Act - comment period to follow[more]

    Bailey McCann, Opalesque New York: Hedge funds and providers of liquid alternatives will want to pay close attention to proposed reforms approved by the SEC yesterday. The changes will require more frequent reporting, as well as a closer look into social media, liquid alternative strategies, and

  5. Opalesque Exclusive: Ovation Partners targets opportunities where few "natural lenders" participate[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Changes in financial regulations post-2008 (Dodd-Frank and Basel III) are forcing banks to significantly alter their core lending businesses. And as mid-sized