Dutch pension fund backs $200mn Leo Re vehicle

Dutch pension fund manager PGGM has emerged as the owner of the
debt issued by the Leo Re sidecar.
Leo was established in Bermuda ahead of the 2017 reinsurance
renewals. A PGGM spokesman confirmed to sister publication
Trading Risk that its client, PFZW, owns
the $200mn of debt issued by Leo.
The spokesman said the insurance-linked securities (ILS)
portfolio that PGGM oversees totals $4bn, up from $3.4bn in April
last year. At that time, the ILS component made up 2...