Ledger Investing, a technology-driven marketplace for matching insurance risk to capital markets, has closed its Nanorock Insurance Linked Security (ILS) fund investment in casualty insurance risks through the Ledger Connect platform.
The fund, will invest in workers’ compensation, general liability, commercial and private passenger auto liability as well as other casualty risks in the US and Europe following capitalisation by a large pension plan
“We are honored to have received the backing of a sophisticated ILS institutional investor who shares our views on the opportunity for data driven investing in the casualty insurance market and is committed to growing the asset class,” said Rajiv Punja, CEO of Ledger ILS Managers, LLC.
“The substantial commitment and strategic focus of the investor marks a pivotal point for the institutionalization of casualty securitization,” adds Samir Shah, CEO and co-founder of Ledger Investing.
“The market continues to support our conviction that the most promising path for exponential growth is by leveraging technology to bring the ultimate capital providers closer to the risk originators, standardize securitization structures and provide industry-leading risk analytics and transparency.”
“The Fund allows us to swiftly deploy capital to meet the long-term capacity needs of managing general agencies (“MGAs”) and insurance companies while providing attractive and diversifying returns to our investor partner,” said Brad Fischtrom, COO of Ledger Investing, Inc.
