PIMCO Launches New Insurance-Linked Securities Business in Partnership with Allianz

28 January 2019

PIMCO publishes on its website:

” PIMCO, one of the world’s premier fixed income investment managers has hired Rick Pagnani, Executive Vice President, to lead the launch of the firm’s property and casualty insurance-linked securities (ILS) business. The insurance-linked market, which offers low correlation to other asset classes and limited sensitivity to moves in interest rates, is a strategically important asset class for PIMCO’s broader alternatives platform, with more than $34 billion of assets under management.*

PIMCO will work in partnership with its parent, Allianz, to source global catastrophe risk in the form of collateralized reinsurance and other structured investments, while maintaining independent underwriting and portfolio construction procedures. This differentiated approach will also give PIMCO the flexibility to source risk from the open market in an effort to deliver attractive risk-adjusted returns for clients.”

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