A new investment firm who will be specialising in insurance-linked securities has launched in Switzerland (according to Investment & Pensions Europe). Twelve Capital are a boutique investment and asset management firm who will be offering insurance-linked security and insurance related debt investment opportunities.
The firm has emerged from the ILS team of independent asset manager Horizon21 who closed to external business a while ago. We hear that seven of Horizon21’s ILS specialists have joined Twelve Capital.
Twelve intends to launch two new funds to be based in Luxembourg in October. Their Twelve ILS fund will focus on catastrophe bonds and mortality bonds.
Urs Ramseier, Managing Partner of Twelve said: “There is high demand for investments such as insurance-linked securities given their diversifying characteristics and fixed income investments in hybrid insurance debt. However, these interesting investment opportunities require specific insurance insight and it is this dedicated knowledge that will be provided by our team. We are thrilled to have the opportunity to continue to service our clients through this dedicated team going forward.”
XS Investments, who have a small investment in Twelve Capital will manage the distribution of their products and services. Twelve Capital already has assets under management of over $100m.
It’s good to see another new firm (even with established faces) offering greater choice to investors looking to get into ILS as an asset class. Popularity of insurance-linked securities is rising and Twelve, having a team with a track record, are sure to be in demand.