ILS manager Twelve Capital adds three hires in London

Zurich, Switzerland headquartered specialist insurance-linked securities (ILS) and reinsurance-linked investment manager Twelve Capital AG has added three new hires in its London office, as the asset manager builds capabilities to continue to strengthen its offering.

Twelve Capital began as an ILS focused investment manager, offering reinsurance linked funds investing in catastrophe bonds, collateralised reinsurance and other insurance-linked securities (ILS). The manager then expanded into investments in insurance private debt and has also been exploring potential opportunities in insurance or reinsurance private equities, Artemis understands.

Two of the three recent hires strengthen Twelve Capital’s analyst team, essential to ensuring deal sourcing and selection is as robust as possible, and bring equity research experience. The third will bring additional sourcing capabilities to the asset managers insurance private debt offering.

Marcus Rivaldi joined Twelve Capital in May 2015 bringing more than twenty years of experience as an insurance analyst to the investment manager. His hiring demonstrates Twelve Capital’s commitment to further strengthen and broaden its team of analysts. He was previously an Executive Director with Morgan Stanley in London, delivering both equity and fixed income research coverage of the European insurance sector.

William Hardcastle joined Twelve Capital in June 2015 and has over ten years of experience as an insurance analyst. Prior to joining the investment manager he was a Vice President with Bank of America Merrill Lynch in London, working as an equity researcher covering the European insurance sector.

Ulrich Beck also joined Twelve Capital in June 2015 and is responsible for Sourcing within the asset managers insurance private debt team. He has fifteen years of experience in providing corporate finance related advisory services in the insurance sector. Prior to joining he worked for five years within KPMG’s Corporate Finance team in Frankfurt, focused on mergers & acquisitions and strategic & transformational advisory, as well as capital markets & financial structuring related advice to insurance clients.

Urs Ramseier, Chairman and CIO of Twelve Capital, commented on the hires; “We are truly excited to have Marcus, William and Ulrich joining the firm. Marcus and William’s deep experience in the insurance market and their research-based quantitative and qualitative skills, together with Ulrich’s extensive knowledge of the insurance industry, will further enhance our ability to serve clients across the firm’s insurance debt and ILS portfolios. The addition of these individuals to our team will deepen and strengthen the firm’s analytics capabilities and result in more diverse investment sourcing opportunities for our clients. We are delighted to welcome them to the firm.”