Fixed-income specialist Pimco has partnered with its parent company Allianz to enter the insurance-linked securities (ILS) space. Pimco will rely on its parent to source global catastrophe risk in the form of various structured investments, though will maintain independence over portfolio construction. The fixed-income manager says the move reflects an increasing client desire to diversify investments. Pimco has hired Logan Re, formerly CEO of Mt. Rick Pagnani, to lead its ILS operations.
Fixed-income specialist Pimco has partnered with its parent company Allianz to enter the insurance-linked securities (ILS) space. Pimco will rely on its parent to source global catastrophe risk in the form of various structured investments, though will maintain independence over portfolio construction. The fixed-income manager says the move reflects an increasing client desire to diversify investments. Pimco has hired Rick Pagnani, formerly CEO of Mt. Logan Re, to lead its ILS operations.