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Giant asset manager PIMCO has raised and deployed more funds into its Cayman Islands based ILS Series SPC fund, taking total insurance-linked assets within one segregated fund account to $51.8 million and overall assets in the vehicle to just over $150 million.
PIMCO (Pacific Investment Management Company LLC), the investment management arm of insurance giant Allianz S.E. that commands around $1.76 trillion of assets, launched the PIMCO ILS Business in January 2019, appointing Rick Pagnani to lead the new insurance-linked securities (ILS) operation.
The new ILS unit of PIMCO has been steadily building out a team and platform and was ready to begin more active underwriting operations as of the start of 2020.