Quantitative multi-strategy hedge fund Squarepoint has hired Guillaume Legal as its new insurance-linked securities (ILS) portfolio manager, marking a further push into catastrophe bonds and reinsurance-linked investments, according to a report by Artemis.

Legal joins from SCOR Investment Partners, where he was a senior figure in the ILS team.

The move comes as Squarepoint, which manages roughly $182bn, formalises ILS as an asset class within its operations. Stéphane Hamel, one of the firm’s heads of portfolio management, added ILS to his remit in Q3 2025, overseeing Fundamental Credit, Structured Credit, Convertibles and ILS.

Legal brings extensive ILS experience, having previously led roles in collateralised reinsurance and weather derivatives at Coriolis Capital and SCOR IP, as well as earlier stints at Societe Generale and AXA Investment Managers.

Squarepoint joins other large multi-strategy firms such as Qube Research & Technologies and Arini Capital Management in hiring specialists to manage catastrophe bonds and other ILS products, reflecting growing hedge fund interest in diversifying into alternative insurance-linked strategies.