Best alternative capital deal-maker: Securis
Since its foundation in 2005, Securis has established itself as one of the largest managers of insurance-linked securities funds.
Core to its success has been the presence of a dedicated life team, which focuses solely on investing in life and health insurance risks.
Securis says investing in life risk is a compelling opportunity for investors targeting mid-to-high single digit returns.
Investors have two main ways to access life risk: a mixed portfolio of life and non-life risks, depending on where there is value at any given time; and a dedicated life fund, which invests in life and health risks.
In 2018, for example, Securis raised funds for its second vintage after successfully deploying approximately $300m in one year.
Compared to three years ago, life assets under management at Securis have roughly tripled in size.
Other recent achievements include designing a number of structures to help insurance counterparties de-risk their balance sheet and optimise their capital.
For example, the inception of Solvency II has meant EU life insurers have had to hold much more capital against the risk of customers lapsing their policies; Securis has developed innovative hedging structures to help firms maximise capital efficiency.
Last year, the ILS manager also closed a number of commission financing and annual management charge monetising transactions.
The judges praised the strong entry from Securis and noted the manager's consistent record shows how its risk expertise adds value in this market.