Twelve Capital
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He had spent 10 years at Securis, with seven of them as COO. -
The fund lists Twelve, Swiss Re and Cambridge Associates as managers.
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The renewal and upsizing of the Trouvaille E&S sidecar highlighted the market’s potential.
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The combined entity ranks third in the Insurance Insider ILS leaderboard.
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The offering is a collaboration with Generali and parametric carrier Descartes.
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Losses to the NFIP-sponsored cat bonds remains a key area of uncertainty, the investment manager reported.
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The deal takes year-to-date cat bond lite issuance to $367.6mn
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The ILS manager leaderboard demonstrates the ongoing popularity of cat bonds.
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The combined Twelve-Securis entity would be a top-five ILS firm currently.
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Urs Ramseier will be CEO and Herbie Lloyd CIO.
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The firm has observed a “more widespread investor base” in cat bonds.
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Industry losses of $800mn-$1.2bn are expected from Beryl's impact in Texas.
