ILS Fund Services Ltd. Surpasses $3bn in Assets Under Administration

ILS Fund Services Ltd. Surpasses $3bn in Assets Under Administration

HAMILTON, BERMUDA, March 4, 2015

ILS Fund Services Ltd., (ILS Fund Services) a Bermuda licensed fund administrator that provides fund administration and valuation services to funds that invest in insurance linked securities is excited to announce that its assets under administration have grown to $3 Billion and the company now provides services to 27 ILS funds. “We are extremely proud of this achievement and very thankful to our clients that have supported and grown with us since we opened our doors for business in early 2012,” remarks Brian Desmond, a Founder and Director of the Company. “It’s been a busy and exciting time in the ILS space the last few years and we see this trend continuing for the foreseeable future. Our growth in assets reflects the success of our clients and our commitment to providing exceptional service and also proves that the model we set up, a Fund Administrator with a deep understanding of reinsurance transactions and valuation, works and is considered huge added value and cutting edge by ILS fund managers and investors alike.”

Bermuda has emerged as a leader in the insurance linked securities space due to its strong regulatory framework and its established (re)insurance and capital markets infrastructure. ILS Fund Services’ clients are currently all Bermuda registered companies that invest in catastrophe bonds, ILWs, sidecars, collateralized reinsurance, and other insurance linked securities. ILS Fund Services’ understanding of the ILS market, its dedication to the asset class and its location in a sophisticated capital markets jurisdiction has secured the Company’s standing as service provider of choice for insurance linked securities funds.

“We are delighted this initiative has been so successful in such a short period of time and that our clients appreciate the level of service that we can provide them from both a fund administration and valuation perspective,” states Andre Perez, also a Founder and Director of ILS Fund Services Ltd. “Having a thorough understanding of the ILS market and the specific fund related needs has certainly enabled us to provide value to each of our client relationships and given ILS Fund Services the ability to shape “best practices” for fund administration for this investment strategy.”

About ILS Fund Services Ltd.

ILS Fund Services was formed as a joint venture between the Horseshoe Group and IKONIC Fund Services Ltd. ILS Fund Services is a Bermuda exempted company which was licensed as a fund administrator by the Bermuda Monetary Authority in November 2011. ILS Fund Services is dedicated to providing fund administration services to funds investing in insurance linked securities.

About Horseshoe Group

Horseshoe Group is the largest independent insurance manager dedicated to the ILS market and offers a broad array of management and advisory services to insurers and reinsurers, catastrophe bonds, sidecars, dedicated reinsurance funds, hedge funds and private equity firms, Lloyd’s affiliates and investment banks. Horseshoe has offices in Bermuda, the Cayman Islands, Gibraltar and Ireland. For more information please visit www.horseshoeglobal.com.

About IKONIC Fund Services Ltd.

IKONIC Fund Services is a Bermuda exempted company which was licensed as a fund administrator by the Bermuda Monetary Authority in August 2007 and provides comprehensive fund administration solutions to alternative investment funds including fund and partnership accounting, investor servicing, AML/ATF review, corporate administration and directorial services. IKONIC’s solutions are tailored specifically for offshore and onshore hedge funds, fund of hedge funds and private equity funds. IKONIC has offices in Bermuda and Charlotte, North Carolina as well as the Cayman Islands. For more information please visit www.ikonicfunds.com.

Enquiries:
Andre Perez
andre@horseshoe.bm
Brian Desmond
briand@ikonicfunds.com

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