Swiss Re has set up a standalone fund company aimed at the alternative capital market for natural catastrophe investment.

1863 Fund will allow investors a new avenue to access its natural catastrophe business, the reinsurer says in a statement.

Its first issue, the Core Nat Cat Fund, will mark the first time Swiss Re opens its natural catastrophe portfolio to investors through a permanent fund format.

“This new fund will open a unique opportunity for investors to invest in the same book of business as Swiss Re, benefitting from Swiss Re’s global reach, client access, risk knowledge and underwriting,” Swiss Re Insurance-linked Investment Management CEO Martin Bisping said.

Swiss Re has been working to expand its natural catastrophe capacity. Last year it formed the Alternative Capital Partners team, specialised in creating investment partnerships with third parties through various forms, such as insurance-linked securities, retrocession, sidecars and the newly created fund platform.