Twelve Capital surpasses $4bn in cat bond and ILS AUM for the first time

Twelve Capital, the Zurich-headquartered insurance-linked securities (ILS), catastrophe bond and reinsurance investment manager, has reached a new milestone in terms of third-party assets under management, surpassing $4 billion for the very first time across its cat bond and ILS portfolios.

With a more than 14 year history of insurance and reinsurance-linked investment management, Twelve Capital is one of the most well-known names in the space and has been steadily growing its cat bond and ILS assets under management in recent years.

In particular, Twelve Capital has had significant success with its catastrophe bond strategies, with its UCITS cat bond fund one of the largest in the marketplace at currently more than US $3.1 billion in size.

With additional cat bond assets in other funds and mandates, as well as private ILS investments, such as collateralized reinsurance and retrocession, these make up the difference to the now over US $4 billion in ILS assets under management, as of September 30th 2024.

Twelve Capital also offers its clients investments across the insurance and reinsurance balance-sheet, with fund strategies that allocate to subordinated debt, insurance private credit bonds, and also equities in the space.

In total, across the $4 billion in ILS and other re/insurance linked investment strategies that Twelve Capital offers, its overall AUM now stands at US $5.2 billion.

Urs Ramseier, CIO & Founding Partner of Twelve Capital told us, “We are happy to announce that we have reached a key milestone of USD 4 billion in our ILS strategy, out of total USD 5.2bn. This achievement reflects the trust and confidence our clients have placed in us, as well as the dedication and expertise of our team.

“We remain committed to delivering value-driven results and maintaining our disciplined approach as we continue to grow and navigate the evolving market landscape.

“The planned merger with Securis will further broaden and deepen our expertise and offering.”

When Twelve Capital and Securis Investment Partners announced their intention to merge earlier this year, the combined entity was expected to result in an investment manager with US $7.8 billion in third-party assets at its command.

Now, with Twelve Capital having continued to increase its cat bond and ILS related assets, it seems the combined investment management entity could be even larger, in AUM terms, when the merger completes later this year.

Twelve Capital has increased its cat bond and ILS AUM by 11%, or $400 million, so far in 2024, from $3.6 billion at the end of 2023, to the now $4 billion as of the end of September 2024.

Twelve Capital is just one of the ILS investment managers featured in Artemis’ directory of insurance-linked securities (ILS) fund managers.