Aberdeen Investments’ Strategic Insurance Group appointed by Flood Re to manage c.£1bn credit mandate
Aberdeen Investments’ Strategic Insurance Group has been appointed by Flood Re, the UK’s government‑backed flood reinsurance scheme, to manage a c. £1 billion credit mandate following a competitive public procurement process.Under the mandate, Aberdeen Investments will act as Flood Re’s sole external asset manager, responsible for managing its investment portfolio on a Solvency UK balance‑sheet basis. The partnership will support the evolution of Flood Re’s investment framework as the organisation matures, while remaining aligned with its risk profile, regulatory requirements and public‑interest purpose.Flood Re is a UK single‑peril reinsurer established to ensure the continued availability of affordable flood insurance for households at risk of flooding, while supporting a long‑term transition to risk‑reflective pricing. As an arm’s‑length body backed by government, the appointment was conducted in line with public procurement rules.Matthew Smith, Global Head of the Strategic Insurance Group at Aberdeen Investments, said:“We are proud to have been selected as Flood Re’s sole investment management partner for what is a systemically important insurer, providing critical protection against a growing climate risk in the UK. “Flood Re is a powerful example of the social purpose that insurance can deliver, enabling households in flood‑risk areas to access affordable cover while allowing the wider market to function effectively. “We are delighted to support Flood Re with a highly focused, balance‑sheet‑aware investment approach and to work alongside its team as a long‑term partner.”The mandate will be led by Dan McKernan, Head of Fixed Income Insurance Solutions at Aberdeen Investments, who brings more than 35 years’ experience managing insurance portfolios.He will be supported by Aberdeen’s wider Strategic Insurance Group, which provides integrated investment management and insurance advisory services tailored to the specific needs of insurers and reinsurers.Aberdeen Investments will also support Flood Re with specialist sustainability expertise, reflecting the latter’s clear focus on climate risk, flood resilience and responsible investment aligned with its public mission.Flood Re manages more than £1 billion in assets and operates within a highly regulated framework. Aberdeen Investments’ appointment reflects its deep experience in managing insurance assets within strict regulatory, liquidity and capital constraints, as well as its ability to deliver detailed reporting, asset‑liability alignment and operational resilience.The partnership will be an ongoing, long‑term relationship, with both organisations working closely together on portfolio construction, risk management and governance, and with investment teams collaborating directly as an extension of Flood Re’s own capabilities.Latinka Pilipovic, Chief Financial Officer at Flood Re, said: “We are delighted to be working with Aberdeen Investments as Flood Re’s sole external asset manager following a thorough public procurement process.“As a regulated, government backed reinsurer, it is essential that our investment strategy is closely aligned with our strong public purpose role. Aberdeen Investments demonstrated a clear understanding of our requirements, alongside strong insurance specific capabilities.“We look forward to working closely with Aberdeen Investments as we continue to strengthen our financial resilience and support households at risk of flooding.”Flood Re was launched in 2016 and is regulated by the Prudential Regulation Authority and the Financial Conduct Authority. It operates through a public‑private partnership between the UK government and the insurance industry, enabling insurers to transfer the flood element of household policies at a subsidised rate, funded in part by an industry‑wide levy.The appointment of Aberdeen Investments reflects a strong alignment between the two organisations, including a shared focus on prudence, transparency and long‑term stewardship. Aberdeen’s systematic and methodical approach to fixed income investing, combined with its insurance‑specific expertise, was a key differentiator in the selection process.
Aberdeen Investments Celebrates 20 Years in Malaysia
Aberdeen Investments (“Aberdeen”) proudly marks its 20th anniversary in Malaysia, celebrating two decades of growth, innovation, and partnership in this fast-growing financial market. Since establishing its Kuala Lumpur office in 2005, Aberdeen has played a significant role in contributing to Malaysia’s investment landscape, introducing global portfolio management and pioneering Shariah-compliant strategies.
From being the only foreign fund manager awarded one of five licenses in 2005 to becoming the first to offer Islamic retail investments with a global equity strategy in 2013, Aberdeen has consistently demonstrated its commitment to Malaysia.
Farid Kamarudin, Chief Executive Officer of Malaysia at Aberdeen Investments, said:
“This milestone is a testament to the trust and confidence our clients have placed in us over the years. Many of our original clients from 2005 remain with us today, which speaks volumes about the enduring relationships we have built. As Malaysia continues to evolve as a global Islamic finance hub, we are proud to have contributed to its growth and remain committed to supporting our clients with innovative solutions for the future.”
To commemorate this achievement, Aberdeen held the Malaysia Investment Forum and Gala Dinner on 20 November 2025 at W Kuala Lumpur. The event featured thought-provoking discussions about what lies ahead for investors and demonstrated how Aberdeen’s global capabilities and local expertise come together for Malaysian clients. Panels delved into the 2026 market outlook, explored megatrends like technology and AI in global and Asian markets, and highlighted opportunities in private markets such as real estate and infrastructure.
Ian Macdonald, Chief Executive Officer – Asia Pacific at Aberdeen Investments, added:
“The Asia Pacific region is a vital part of Aberdeen’s global footprint and growth strategy, and Malaysia plays a significant role in that context. We are committed to servicing local investors –individuals and institutions – by providing access to our global investment capability while ensuring they receive quality service and experience. This commitment underpins our ambition to grow alongside Malaysia’s financial industry and strengthen our presence as a trusted partner for the long term.”
*(From left to right) Mohd Farid Kamarudin, Chief Executive Officer, Aberdeen Investments Malaysia; Amarjit Chhina ,Non-executive Directors of the Abrdn Islamic Board; Joanne Marie Lopez, Non-executive Directors of the Abrdn Islamic Board; Henny Muliany, Head of Product – Asia Pacific, Aberdeen Investments; Ian Macdonald, Chief Executive Officer – Asia Pacific, Aberdeen Investments; John McCareins, Chief Client Officer, Aberdeen Investments
Aberdeen Investments Expands Japan Residential Portfolio with Acquisition of Two Prime Properties in Tokyo
Aberdeen Investments (“Aberdeen”), a global investment company, announced the acquisition of two high-grade residential rental properties in Japan – WORVE Tokyo Kiba (“Kiba”) and Dimus Negishi– under its Japan Residential Property Strategy.
In Japan, rental growth is emerging as a more significant driver of Japanese property yields. In Tokyo, average multifamily rents across the 23 wards have increased 6.4% year-on-year, supported by robust net migration, accelerated wage growth, and elevated for-sale condo prices, which continue to underpin strong leasing demand.
In October 2024, Aberdeen Invetsments announced its expansion of its Living business into the Japan market, having been awarded a mandate by Dutch pension fund manager PGGM to manage a portfolio of 3,300 rental homes in Japan. By November of the same year, Aberdeen’s total residential investments globally had surpassed EUR 10 billion.
Marc Pamin, CEO of Living at Aberdeen Investments said: “The Japanese market is an exciting, fast growing addition to our global Living business, which broke the EUR 10 billion assets under management milestone last year. We are deeply committed to this market and continuously strengthening our investment capabilities to offer superior services and innovative investment solutions to both Japanese investors and those looking to invest in Japan. These acquisitions underline our ambition to excel in the Japanese real estate market.”
Both properties are strategically located within Tokyo’s 23 wards, offering convenient access to public transportation and situated in highly sought-after residential areas.
WORVE Tokyo Kiba (“Kiba”): A modern, 12-story building completed in November 2022, Kiba offers 125 residential units, ranging from studio apartments (25 sqm) to one-bedroom (32–33 sqm) and two-bedroom units (50 sqm), as well as one small retail unit. Designed to cater to both single occupants and small families, the property is currently leased up to 95.8% as of January 2025.
Dimus Negishi (“Negishi”): Completed in February 2024, this 7-story building consists of 71 residential units, including studio apartments (26 sqm), one-bedroom units (43 sqm), and two-bedroom units (48 sqm). Negishi primarily targets single occupants, and as of January 2025, the property is leased up to 93.8%.
Harumi Kadono, Head of Japan Real Estate at Aberdeen Investments, said: “Japan has been one of the markets where we hold the highest real estate investment conviction in APAC. At the same time, the living and residential sector ranks highly in our investment preferences globally. In particular for Tokyo residential properties, the investment case remains robust. Vacancy rates have historically been tight, and trends underpinning residential leasing demand – such as net migration, improved wage growth, and increased female labor participation/dual-income households – are likely to endure. We believe this asset class offers an excellent opportunity for global investors seeking to diversify their portfolios while achieving superior long-term returns and stable income.”
As an active participant in the global real estate market for over 50 years, Aberdeen has extensive experience in managing direct and indirect real estate investments, real estate multimanager services, listed real estate, and real estate debt solutions. As of 31 March 2025, Aberdeen managed £35 billion in real estateassets and around 1,000 properties globally, with over 300 real estate investment professionals.