According to the press release, managed by Twelve Capital, the fund will benefit from GC&C’s underwriting excellence, extensive global network, and long-standing reputation. Descartes contributes its unique scientific expertise, risk assessment capabilities, and global track record in parametrics, while Lumyna, part of Generali Investments, provides robust infrastructure and a strong marketing presence.
It is noted that this new ILS fund highlights the increasing appeal of such funds as a part of diversified investment strategies. This initiative demonstrates growing innovation and investment in the ILS market, combining traditional reinsurance mechanisms with advanced technologies, such as AI, to help businesses address the widening protection gap for natural catastrophes.
“The launch of this parametric ILS fund reflects our commitment to innovation in the insurance sector and our dedication to bridging the global protection gap. This initiative represents a breakthrough in parametric insurance, offering unique opportunities for investors and clients while helping businesses and communities build resilience against natural risks. We are proud to collaborate with our esteemed partners Descartes, Lumyna and Twelve Capital, whose combined strengths have been instrumental in bringing this innovative solution to market”, commented Christian Kanu, CEO of Generali Global Corporate & Commercial.
“This new arrangement provides additional capacity for profitable growth, in line with our broader alternative capital strategy, and represents another key step in our partnership with Generali Global Corporate & Commercial. We are delighted to join forces with outstanding market leaders such as Twelve Capital and Lumyna in the face of climate change”, said Tanguy Touffut, Co-Founder and CEO of Descartes.
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