Twelve Capital and Securis complete merger

By Henry Gale

Feb 13 - (The Insurer) - ILS investment managers Twelve Capital and Securis Investment Partners have completed their merger, unveiling Twelve Securis as the new brand for the combined entity on Thursday.

The combined firm is one of the largest ILS management firms globally with $8.5bn in assets under management. It said that the transition has been carefully structured to ensure continuity for clients and employees.

Securis was founded in 2005 and Twelve Capital in 2010, with the two firms particularly active in private ILS and cat bonds, respectively.

Twelve Securis said that it will have a strong focus on performance generation under rigid investment governance, with cost-effective and transparent investment vehicles. It also remains committed to independence.

When the merger was announced in July 2024, the companies said the combined entity would have a global team working across offices in London, Zurich, Munich, Tokyo and Bermuda. It added that Securis CEO Vegard Nilsen would leave the business when the transition completed.

Urs Ramseier, Twelve Capital's founding partner and executive chairman and now CEO of Twelve Securis, told The Insurer TV after the deal was announced that size matters more than ever in the ILS market.

"The cost of doing business is going up in asset management in general, but in ILS in particular, because we have very sophisticated tools we use for pricing and analytics. These tools are expensive and have taken a long time to develop, and the bigger we are, the more we can spread the costs among more investors and bigger portfolios.”

He added: "Securis has a strong presence in the US and UK, while Twelve Capital is well established in continental Europe, with both companies active in Australia. So our distribution networks are highly complementary."

Earlier this month Twelve Capital announced a new ILS fund focused on parametric risks, in partnership with Generali Global Corporate & Commercial, Descartes Underwriting and Lumyna Investments, part of Generali Investments.