January 26, 2018 / 2:43 PM / a year ago

Dutch pension fund PGGM wants to increase reinsurance investments

AMSTERDAM, Jan 26 (Reuters) - PGGM, the Dutch pension fund manager overseeing assets of nearly 200 billion euros ($248 billion), is looking to increase its allocation to insurance-linked securities (ILS), or disaster reinsurance, despite a difficult year in 2017.

Evelien Takken, PGGM’s senior investment manager for ILS, told Reuters in an interview she would like to bump up exposure from a little less than 2 percent of assets under management to 2.5 percent, an increase of around 1.2 billion euros.

She said hurricane risks have not increased, while reinsurance premiums have, and the asset class has returned around 7 percent annually for PGGM since 2005 - including last year’s loss of around 2 percent after currency effects.

Reporting by Toby Sterling, editing by Larry King

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