Tue, Apr 28, 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. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

  4. Update: Wall Street has strong feelings about Jon Corzine trying to make a comeback[more]

    From Businessinsider.com.au: Former New Jersey Governor Jon Corzine is thinking about starting his own hedge fund, according to the Wall Street Journal, and because of the way his last firm imploded, Wall Street has strong feelings about that. “Truth is the larger seeders would never give him money

  5. Opalesque Exclusive: Cybersecurity and hedge funds - A manager’s experience, Part Four[more]

    Benedicte Gravrand, Opalesque Geneva: Ruane, Cunniff and Goldfarb, Inc. used to have their own IT infrastructure. Todd Ruoff, Executive Vice President in charge of trading, operations and technology, was responsible for its maintenance. Then he started looking at outsourced providers a couple of