Tender

Insurance Linked Securities (ILS)

NORTH YORKSHIRE COUNTY COUNCIL (AS ADMINISTERING AUTHORITY OF THE NORTH YORKSHIRE PENSION FUND)

This public procurement record has 1 release in its history.

Tender

25 Jan 2018 at 09:22

Tender Notice
Summary of the contracting process

The North Yorkshire County Council, acting as the administering authority of the North Yorkshire Pension Fund, has initiated a tender for "Insurance Linked Securities (ILS)". This procurement falls within the financial and insurance services sector and is being conducted in the Yorkshire and the Humber region of the United Kingdom. The main procurement category is services, with a tender period ending on 2nd February 2018. The total value of the contract is estimated between £110 million and £165 million, with the contract period set to commence on 26th March 2018 and concluding on 25th March 2021.

This tender presents a significant opportunity for businesses specialising in portfolio management and investment services, particularly those knowledgeable in insurance-linked securities. Companies with experience in financial services are well-suited to compete for this contract, as the North Yorkshire Pension Fund aims to diversify its investment strategy while enhancing its risk and return profile. Smaller voluntary community sector entities may also find eligibility for participation, given the fund's openness to various types of organisations.

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Notice Information

Notice Title

Insurance Linked Securities (ILS)

Notice Description

North Yorkshire Pension fund as administered by North Yorkshire County Council. Following a recent investment strategy review, the Pension Fund Committee (the 'PFC') of the North Yorkshire Pension Fund (the 'Fund') is currently considering introducing an Insurance-Linked Securities ('ILS') mandate(s). The allocation is expected to account for between 3.3% - 5% of total Fund assets (equivalent to c. PS110m to c. PS165m). The rationale behind the appointment is to reduce the Fund's overall exposure to equities (as the source of assets for the ILS appointment will be equities) following recent material improvement in the Fund's solvency level. The returns from ILS depend on the underlying risks which are very different from those of traditional assets. This facet is unique. Allocating to ILS therefore helps in building a more robust overall portfolio with a strong risk/return profile.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-ab942f95-1668-4691-8d8a-ed585bd6718c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/e9bb59b2-85ba-4fa2-8200-1704e491eb35
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other -
Tender Suitability
VCSE
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

66140000 - Portfolio management services

Notice Value(s)

Tender Value
£16,500,000 £10M-£100M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
25 Jan 20188 years ago
Submission Deadline
2 Feb 2018Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
25 Mar 2018 - 25 Mar 2021 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NORTH YORKSHIRE COUNTY COUNCIL (AS ADMINISTERING AUTHORITY OF THE NORTH YORKSHIRE PENSION FUND)
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
NORTHALLERTON
Postcode
DL7 8AD
Post Town
Darlington
Country
England
Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE2 North Yorkshire
Small Region (ITL 3)
TLE22 North Yorkshire
Delivery Location
TLE Yorkshire and The Humber
Local Authority
North Yorkshire
Electoral Ward
Romanby
Westminster Constituency
Richmond and Northallerton

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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