The asset management firms Twelve Capital and Securis Investment Partners (Securis) have announced their intention to merge, as revealed on Thursday. Both companies are heavily involved in the insurance-linked securities (ILS) business. These are insurance-based investments whose value is influenced by insured loss events, commonly referred to as «catastrophe bonds» in industry jargon.

This merger will create a leading, owner-managed company and one of the largest and most experienced ILS managers worldwide, with assets under management of $7,8 billion.

Improved Market Access

Founded in 2005, the London-based Securis is a pioneer in public and private ILS with nearly two decades of operational experience. The Zurich-based Twelve Capital, founded in 2010, specializes in insurance investments and has established itself as a market leader in the catastrophe bond sector with over 14 years of experience.

The complementary investment strategies of the two companies will allow the merged entity to benefit from enhanced investment capacities and improved market access. The new firm will have significant innovation potential and be well-positioned to meet investor demand for ILS strategies and products.

New Leadership Team

The new partnership will be led by Urs Ramseier, co-founder of Twelve Capital, as CEO. Herbie Lloyd, CIO of Securis, will become CIO Private ILS and Head of UK and Bermuda. Christoph Buerer, co-founder of Twelve Capital, will serve as President of the new partnership, while Etienne Schwartz will become CIO Liquid Securities.

Vegard Nilsen, CEO of Securis, will leave the company after the transaction is completed. The global team will have offices in London, Zurich, Munich, Tokyo, and Bermuda.

«The merger will unleash significant innovation potential and enable the offering of a broader range of ILS solutions to a global investor base, building on the existing client coverage in North America, the UK, Europe, and the Asia-Pacific region,» said Ramseier.