Establishment of new subsidiaries and agreement signifies watershed moment for maturation of casualty ILS marketNEW YORK, Aug. 6, 2024 /PRNewswire/ -- Ledger Investing, the leading marketplace connecting insurance risk to capital, announced today an expansion of its capabilities within the casualty insurance-linked securities (ILS) market with the launch of two new Cayman-based subsidiaries: Ledger Re SPC, a reinsurer providing institutional investors access to casualty ILS, and Ledger ILS Services, a provider of underwriting and risk management services. Ledger Investing has pioneered the development of casualty ILS since its founding in 2017 and the formation of these business segments further cements its leading role in helping managing general agents (MGAs) and (re)insurers source capital in the ILS market.In another sign of the company's momentum, Ledger Investing is also delighted to announce that the casualty ILS funds previously managed by Ledger, will now be managed by the casualty team at Fermat, leveraging Fermat's extensive experience in ILS asset management. Ledger Investing will continue to provide support services for those underlying casualty ILS investments.John Seo, Managing Director and Co-Founder of Fermat, emphasized the value of casualty ILS as an asset class: "Fermat continues to see growing investor appetite for alternative fixed income investments. Given the portfolio diversification benefits of casualty ILS, we anticipate broad investor interest, ranging from pension plans seeking income to private credit managers looking for diversification."Since its first transaction in 2019, Ledger Investing has been at the forefront of extending the use of ILS markets to finance casualty insurance risks. The company has brought scale and maturity to the casualty ILS market and serves as the premier gateway for insurers, reinsurers, and MGAs to connect with ILS capital."These milestones are a pivotal moment in the growth of the casualty ILS market," said Samir Shah, CEO of Ledger Investing

Private equity firm Altamont Capital Partners has added Brad Fischtrom, previously Chief Operating Officer of insurance technology (insurtech) and insurance-linked securities (ILS) focused company, Ledger Investing, as an Operating Partner with a focus on investments in the property and casualty (P&C) insurance space.

Industry veteran Amy Stern joins Ledger Investing as Chief Executive, Reinsurance.