ILS Capital Management has been a client of Prime Management since 2011 and will utilize their specialized collateralized reinsurance and risk-linked investment administration services with both their new reinsurance entity Prospero Re Ltd. and The 1609 Fund.

"The decision to select SS&C GlobeOp to provide fund administration and risk-linked administration services was an easy one. Our positive experience with Prime combined with the proven institutional strength of SS&C GlobeOp will allow us to focus on business growth rather than administration," said Tim Tetlow, President and COO, ILS Capital Management.

"We are committed to supporting customers as they look to generate efficiencies from streamlining and consolidating their operational functions. We are pleased to be able to work with a high quality, established organization such as ILS Capital Management," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "The specialized ILS services we deliver will enable ILS Capital Management to keep its services independent and transparent."

Prime Management, a division of SS&C GlobeOp, is licensed and regulated as an administrator by the Bermuda Monetary Authority under the Investment Funds Act 2006 and has successfully completed a SSAE 16 Type II Review Certification. Prime Management has been servicing the specialized requirements of investment structures, sponsors and managers in the ILS market since 2002 and is a market leader in providing proven outsourcing solutions to the ILS market.