Generali and Descartes Underwriting Launch ILS Fund

The word from Generali and Descartes Underwriting;

Generali Global Corporate & Commercial (GC&C) and Descartes Underwriting have announced the launch of the new Lumyna Twelve Capital Parametric Insurance Linked Securities (ILS) Fund. This innovative investment fund is a pioneer in the fast-growing ILS market and represents
a significant step forward in the GC&C and Descartes partnership, aimed at expanding the use of parametric solutions in the natural catastrophe insurance space.

Managed by Twelve Capital, the fund will benefit from GC&C’s underwriting excellence, extensive global network, and long-standing reputation. Descartes contributes its unique scientific expertise, risk assessment capabilities, and global track record in parametrics, while Lumyna, part of Generali Investments, provides robust infrastructure and a strong marketing presence. Through this collaboration, GC&C and Descartes strive to enhance underwriting capacity and further grow their leading presence in the parametric segment.

Seeded by a leading European institutional investor, this new ILS fund highlights the increasing appeal of such funds as a part of diversified investment strategies. Investors will gain access to a portfolio that includes Cat Bonds and securitized natural-perils parametric insurance policies, which leverage GC&C’s and Descartes’ market-leading expertise. This initiative demonstrates growing innovation and investment in the ILS market, combining traditional reinsurance mechanisms with advanced technologies, such as AI, to help businesses address the widening protection gap for natural catastrophes.

Christian Kanu, CEO of Generali Global Corporate & Commercial, adds: “The launch of this parametric ILS fund reflects our commitment to innovation in the insurance sector and our dedication to bridging the global protection gap. This initiative represents a breakthrough in parametric insurance, offering unique opportunities for investors and clients while helping businesses and communities build resilience against natural risks. We are proud to collaborate with our esteemed partners Descartes, Lumyna and Twelve Capital, whose combined strengths have been instrumental in bringing this innovative solution to market.”

Tanguy Touffut, Co-Founder and CEO of Descartes says: “This new arrangement provides additional capacity for profitable growth, in line with our broader alternative capital strategy, and represents another key step in our partnership with Generali Global Corporate & Commercial. We are delighted to join forces with outstanding market leaders such as Twelve Capital and Lumyna in the face of climate change.”