Technology services company IBM’s pension fund has diversified into reinsurance with the allocation of $50 million to Bermuda-based Nephila Capital’s Iron Catastrophe Fund.
The pension fund, which is approximately £5.9 billion in size, has made a 1.04 percent allocation into the catastrophe fund.
In its annual report, the pension fund said it had moved into the new asset class of reinsurance towards the end of 2013.
Nephila, IBM, Bermuda, Europe
