Youssef Sfaif, a Director of Credit score and Insurance coverage Linked Investments at vital insurance-linked securities (ILS) sector pension investor PGGM, is departing from the allocator to hitch an in-house ILS platform owned by a serious reinsurer, Artemis has discovered.
PGGM is the most important end-investor in insurance-linked securities (ILS) and has a long-history of steadily increasing its holdings within the house, with a deal with partnerships with reinsurance entities changing into a most popular technique for accessing insurance-linked returns lately.
As an worker at one of the vital forward-thinking allocators within the ILS class, Sfaif has performed a big position within the growth of its method to the ILS sector, since he joined the pension investor in 2017.
Earlier this 12 months, we reported that PGGM’s ILS allocations had now reached roughly US $8.2 billion in dimension, with new partnerships with reinsurance originators and ILS fund allocations established in latest months, because the pension investor continues to broaden within the house.
At the moment, we have no idea the place precisely Sfaif is headed for his subsequent profession transfer, however we’re instructed that will probably be an govt degree position at an ILS platform owned by a Bermuda-headquartered reinsurance firm.
Sfaif’s background has at all times been in insurance coverage and reinsurance, having begun his profession on the actuarial facet of the enterprise, first for dealer Marsh in Paris, earlier than transferring to the underwriting facet of the trade at French reinsurer SCOR, the place he developed a deal with different options.
In 2017, Sfaif made his transfer into the insurance-linked securities (ILS) investing house, becoming a member of Netherlands based mostly pension funding specialist PGGM.
His profession with PGGM started as an Funding Supervisor targeted on Credit score and ILS investing, earlier than Sfaif was promoted to Affiliate Director in early 2018.
He was then promoted to the position of Director, Credit score & Insurance coverage Linked Investments in early 2020.
Now, virtually 5 years into his profession at PGGM, Sfaif is making a transfer to the ILS administration facet of the trade, however for a serious reinsurer.
A place that matches properly along with his profession historical past, notably along with his work in establishing and constructing relationships with reinsurance companions, as a serious or sole ILS investor in joint-venture automobiles, sidecars and ILS funds.
