ILS Fund Services Ltd. (ILS) has exceeded $1bn in assets under administration just 18 months after the company commenced operations.,The company is a Horseshoe Group and ISIS Fund Services Ltd. joint venture, which was founded to provide fund administration services to funds investing in insurance linked securities.A statement described the company as “extremely excited” to make the announcement.“The growth that ILS has experienced since we launched the company has exceeded our expectations,” commented Ede Conyers, director of ILS Fund Services Ltd. “We are extremely proud of the level of service that we currently provide our clients and are committed to exceeding our clients’ expectations. There was a gap in the provision of comprehensive service offerings for insurance linked securities funds which both Horseshoe Group and ISIS Fund Services have successfully filled and helped raise the bar in terms of best practice.”Andre Perez, Director of ILS Fund Services Ltd., said “We are delighted that the services ILS are providing (to) funds that invest in this niche asset class have been well received by the community.”“Our assets under administration have grown incredibly quickly over the past 18 months and we are optimistic that they will double in the next year. It proves that the model we set up, a fund administrator with deep understanding of reinsurance transactions and valuation, works and is being extremely well received by fund managers and investors alike.”ILS’ client base consists of global institutional investment managers that invest in catastrophe bonds, ILWs, sidecars, collateralised reinsurance and other insurance linked derivatives through Bermuda registered investment companies, according to their statement.It continued: “Bermuda has emerged as a leader in the insurance linked securities space because of its strong (re)insurance and capital markets infrastructure and its flexible yet firm regulatory environment. ILS’ comprehensive service offering combined with Bermuda’s strong regulatory framework and its commitment to this asset class will assist the Company in winning additional client mandates and hence emerging as the service provider of choice for insurance linked securities funds.”Useful website: www.ilsfunds.bm