Searches and Hires

Kansas City foundation puts $10 million in reinsurance

Health Care Foundation of Greater Kansas City, Mo., committed $10 million to Securis Event Fund, an insurance securities fund managed by Securis Investment Partners, said Rick Zimmer, chief financial officer, in an email.

The $740 million foundation's finance and investment committee on Nov. 21 approved the commitment to the insurance-linked securities manager and voted to allocate the investment to its private equity asset class. It is the first commitment for the foundation to Securis, Mr. Zimmer said.

According to Oct. 17 minutes, the foundation made the commitment because "while the market is small, only $90 billion, now is an opportune time to enter due to the number of insurance companies managing risk related to natural disasters," according to the minutes.

Investment consultant Aon Hewitt Investment Consulting assisted.