Bermuda-based fund administrator, ILS Fund Services, has reached a major milestone with its assets under administration exceeding $3 billion for the first time.
ILS Fund Services provides fund administration and valuation services to 27 funds that invest in insurance linked securities (ILS) and its growth reflects the exponential boost in interest in this space in recent years.
“We are extremely proud of this achievement and very thankful to our clients that have supported and grown with us since we opened our doors for business in early 2012,” said Brian Desmond, a director of the company.
“It’s been a busy and exciting time in the ILS space the last few years and we see this trend continuing for the foreseeable future. Our growth in assets reflects the success of our clients and our commitment to providing exceptional service and also proves that the model we set up, a fund administrator with a deep understanding of reinsurance transactions and valuation, works and is considered huge added value and cutting edge by ILS fund managers and investors alike.”
Andre Perez, also a director of ILS Fund Services, added: “We are delighted this initiative has been so successful in such a short period of time and that our clients appreciate the level of service that we can provide them from both a fund administration and valuation perspective.
“Having a thorough understanding of the ILS market and the specific fund related needs has certainly enabled us to provide value to each of our client relationships and given ILS Fund Services the ability to shape “best practices” for fund administration for this investment strategy.”
ILS, ILS Fund Services, Brian Desmond, Andre Perez