Twelve Capital

He had spent 10 years at Securis, with seven of them as COO.

The fund lists Twelve, Swiss Re and Cambridge Associates as managers.

The renewal and upsizing of the Trouvaille E&S sidecar highlighted the market’s potential.

The combined entity ranks third in the Insurance Insider ILS leaderboard.

The offering is a collaboration with Generali and parametric carrier Descartes.

Losses to the NFIP-sponsored cat bonds remains a key area of uncertainty, the investment manager reported.

The deal takes year-to-date cat bond lite issuance to $367.6mn

The ILS manager leaderboard demonstrates the ongoing popularity of cat bonds.

The combined Twelve-Securis entity would be a top-five ILS firm currently.

Urs Ramseier will be CEO and Herbie Lloyd CIO.

The firm has observed a “more widespread investor base” in cat bonds.

Industry losses of $800mn-$1.2bn are expected from Beryl's impact in Texas.

Recent modelling predicts a strong probability of direct landfall in Jamaica.

Tanja Wrosch joins Twelve after more than a decade at Credit Suisse ILS.

The management’s buyback acquisition brings an end to the two-year relationship.

ILS could benefit from focusing on the social aspect of ESG.

The fund will follow an existing Twelve strategy and add short-term corporate bonds.

Schwartz will set the firm’s investment process on its ILS, equity and debt strategies.

Steiger is said to be moving to an “entrepreneurial” role after more than six years with the Zurich-based firm.

The Florida hurricane season still has three months to run in a predicted above-average year.

Idalia might add further aggregate erosion to several cat bonds covering various perils over an annual risk period, it stated.

The ILS manager said returns on casualty ILS were "much higher than on the diversifying nat cat perils such as Italian quake or German flood".

An imbalance of capital supply and demand led to strong increases to spreads at issuance for index-linked and indemnity bonds.

The Zurich-based ILS manager has entered a partnership with the new life ILS firm set up by former Securis CUO Paul Whiting.

The new fund launched earlier this year to invest in companies that are seeking to reduce their emissions.

Martina Müller-Kamp will sit on the board of Twelve Capital’s holding company, while Caroline Clemetson and Andreas Knörzer join the board of Twelve Capita’s investment manager.

The outcomes were better than the Swiss Re global cat bond index decline after the major hurricane.

The Swiss ILS specialist pointed to potential impacts on Floodsmart, Florida indemnity and index-linked bonds.

A flurry of selling in the secondary cat bond market is causing “weakness in pricing”, according to a note by Twelve Capital, as sources suggested investors are moving to free up capital for what is expected to be a bumper pre-hurricane season phase.

The firm will look to grow its offerings on climate change and natural catastrophe risk.

The deal is expected to close in Q2.

The fund will focus on later-stage investment in companies already known to Eos.

Twelve Capital has promoted two executives to the new roles of co-managing partners to take on day-to-day management at the firm and head its group management committee.

Daniel King-Robinson and Tobias Engeli have joined Twelve Capital from EFG Bank to work on sustainable and climate investing, which the firm said strengthened its ESG focus across portfolios for institutional clients.

The company also appointed two senior distribution specialists to focus on expansion in the UK and the Nordic and Benelux regions.

The executive was one of the Swiss bank’s most senior ILS executives and established their life fund.

The firm signed up to the UN Principles for Responsible Investment a year ago.

Recent investor inflows to its cat bond UCITS have brought it to over $1bn assets under management.

The Insurance Capital Fund combines US wind cat bonds with subordinated debt issued by European insurers.

Significant start-up moves this month included Kathleen Faries and Julia Henderson joining Lavant and Piers Cantlay signing up to join McGill.

The new board composition is seen as a catalyst for the future growth of the group.

The fund expanded its distribution efforts in the two main Australasian countries last year.

The firm will shift its private ILS strategies away from diversifying perils.

The CEO stressed that ILS’ non-correlated nature makes it an attractive asset class in periods of financial instability.

Plenum’s CEO said the hire of Grieger and a SocGen credit research leader will “unleash significant potential” by adding insurance bond capabilities.

Founding partner of Twelve Capital Sandro Kriesch said he does not expect many ILS funds to “be on the hook” for Covid BI losses.

Quota share and aggregate-property cat contracts are under watch as a result of the recent Australian bushfires but occurrence covers will probably remain mostly unscathed, sources expect.

The exposure to this transaction across private ILS strategies varies from 1.7 percent to 1.9 percent of November's portfolio, the manager said.