AXA Investment Managers (AXA IM) has enhanced its insurance-linked securities (ILS) investment division with the addition of a new portfolio manager. Jeevan Singh Upaul has joined the firm, transitioning from his previous position at the re/insurer MS Amlin. This appointment underscores AXA IM's ongoing commitment to expanding its capabilities and reinforcing its team within the ILS market, where it currently oversees more than $1 billion in third-party assets.
Upaul brings a wealth of actuarial experience from his tenure in both the broking and underwriting sectors of the insurance and reinsurance industry. Most recently, he served as a Portfolio Actuary at MS Amlin in London for over five years, a role that also included time as a pricing actuary. Prior to that, he honed his skills as an actuarial analyst at Hiscox for nearly two years, following an internship in a similar capacity at WTW.
AXA IM's Paris-based ILS unit is an integral part of its wider Alternative Credit platform, AXA IM Alts, managing diverse ILS investment fund strategies. The firm's UCITS catastrophe bond fund strategy, the AXA IM WAVe Cat Bonds fund, has notably grown to manage almost $400 million in assets. This latest recruitment highlights AXA IM's strategic focus on strengthening its team to manage its expanding catastrophe bond and ILS portfolios.
This strategic hire by AXA IM reflects a broader trend of growth and increasing sophistication within the insurance-linked securities market. By attracting experienced professionals like Jeevan Singh Upaul, firms are not only bolstering their internal expertise but also demonstrating confidence in the long-term potential of ILS as a critical component of global financial markets, contributing to resilience and stability in the face of evolving risks.
