RFP: Plymouth County Retirement Association seeks ILS manager

The Board of the Plymouth County Retirement Association, a retirement manager that provides pensions and benefits to over 11,500 participants from 24 municipalities, 5 regional schools, 17 housing authorities, and 6 special districts, is seeking an insurance-linked securities (ILS) investment manager for an allocation.

The Plymouth County Retirement Association has published a request for proposal (RFP) on the Massachusetts state government website, requesting proposals from investment managers for an Insurance-Linked Securities fixed income strategy.

The pension’s Board said it intends to invest $10 million into the ILS investment strategy and is seeking proposals from experienced ILS managers only.

The RFP is being managed on behalf of the pension by Meketa Investment Group and a full RFP can be downloaded from the investment consultancies website here.

The Plymouth County Retirement Association pension has around $1.4 billion in assets under management and had around 18% allocated to fixed income strategies at the end of 2021.

Proposals are requested by November 23rd.

It’s encouraging to see new RFP requests coming from US retirement funds, as it signals continued interest in the diversifying return-potential of insurance-linked securities (ILS), as a small component of pension plans.