Swedish pension fund Alecta, Stockholm, invested $200 million in a property catastrophe reinsurance vehicle of SCOR Global P&C, the two organizations said Wednesday in a joint news release.
Alecta, with 1,153 billion Swedish kronor ($127 billion) in assets, invested in French reinsurer SCOR's Atlas Gotland Worldwide Catastrophe Sidecar, a segregated account of SCOR's new special purpose reinsurer, Atlas Re.
On Tuesday, Alecta announced it had invested $250 million in a Swiss Re fund managing natural catastrophe risk.
Tony Persson, Alecta head of fixed income and strategy, said in an email that the Swiss Re 1863 Fund co-investment "is flexible enough to customize a subportfolio for Alecta and we see this flexibility as a key part of our strategy going forward."
When asked whether there will be similar partnerships in the near future, Mr. Persson said the investments were fairly standard sidecars, and "there will not be more for now."