Global independent insurance manager Kane, a provider of Insurance Linked Securities (ILS) and Life, Pension and Investment (LPI) administration services, has set up a new subsidiary in Bermuda.Kane LPI Solutions Limited is licensed by the Bermuda Monetary Authority as a fund administrator and will operate as the head office for the firm’s life, pension and investment administration activities.Kane’s LPI Solutions team provides administration solutions to clients all around the world in the investment, pension and insurance sectors. Services offered include all aspects of the product life-cycle, spanning the initial design and development of the solution, through to the product build, launch and ongoing administration.In addition to this, Kane LPI Solutions has expanded its scope and is now able to provide comprehensive fund administration services from Bermuda, including ILS and reinsurance investment fund administration services.Kane has appointment John Uprichard as managing director of Kane LPI Solutions.He was formerly head of business for LPI at Kane and will report directly to Kane’s group CEO Simon Hinshelwood.“The decision to set up Kane LPI Solutions reflects the scale that our life, pension and investment administration division has now achieved,” Mr Hinshelwood said.“John and his team have done an excellent job broadening our LPI offering over the last 18 months, and they have achieved a number of major client wins in recent months. We fully expect 2013 to be a very strong year for the LPI Solutions team.”“In the current financial environment, we see significant opportunities for further growth in the LPI arena Mr Uprichard said. “Using a third party administrator that combines expertise and the right technology platform can prove a much more cost effective and efficient way to get a new product to market.“Setting up Kane LPI Solutions gives us the perfect means of capitalising on these opportunities.”Kane employs 32 people in Bermuda already and the company tells The Royal Gazette the new license will allow them to further grow their Bermuda presence.