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Fermat Capital Management

Fermat Capital Management, LLC (“Fermat”) is a Connecticut, USA based investment management company specialising in Insurance-Linked Securities (ILS).

Since it was founded in 2001 by John and Nelson Seo, Fermat has remained wholly dedicated to the ILS sector, with particular focus on catastrophe bonds.

Related Articles

  • 21 May 2019

    Insurance-Linked Securities: True Differentiation

    Non-directional strategies have come to the fore in the current post-peak environment. Fermat Capital’s John Seo highlights the fact insurance-linked securities (ILS) are fundamentally uncorrelated with the broader market and insulated to an extent from macro issues such as the economic cycle, interest rates and the political environment.

  • 17 January 2019

    Outlook 2019: Non-Directional Investments

    We asked a number of our fund managers to consider why non-directional investment strategies might be of interest in a more challenging post-peak environment.

  • 8 January 2019

    Outlook 2019: key themes

    We asked a number of our fund managers to highlight the key themes they are looking out for in 2019 and what the impact is likely to be for their respective asset class.

  • 11 December 2018

    Insuring natural disasters: mind the (disaster) gap

    As we reach the conclusion of another active hurricane and wildfire season, John Seo discusses how insurance-linked securities are filling the large gap left by the reinsurance industry and may offer genuine diversification for investors.

  • 6 December 2018

    Outlook 2019: key events

    We asked a number of our fund managers which key events they are looking out for in 2019 and what the impact is likely to be for their respective asset class.

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    Tuesday, April 19, 2016

    Investing in Cat Bonds

    Dr John Seo, Co-Founder and Managing Principal at Fermat Capital Management LLC, talks about catastrophe bonds and why they may be an option for investors in a low yield environment.

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    Tuesday, May 19, 2015

    Cat bonds and the bundling misconception

    Dr John Seo, Co-Founder and Managing Principal at Fermat Capital Management, LLC discusses the rise of complex, non-transparent risk bundling within the reinsurance industry and how the cat bond asset class is unaffected by this.

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    Tuesday, April 14, 2015

    Cat bonds - issuance, yields and what's to come

    Following April’s record issuance, Dr John Seo talks on the supply / demand dynamics of the cat bond market and how first-quarter returns aren’t always a guide to full-year potential.

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    Tuesday, July 01, 2014

    The cat bond misconception

    Investors on the hunt for yield have turned the limelight on the cat bond market, but this flurry of attention has not been the primary driver for the asset class’s growth.

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