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Twelve Securis consolidates cat bond and private ILS teams as CEO departs
The manager said the larger UCITS cat bond fund it oversees is above US$4.65 billion.
Twelve Securis, a catastrophe bond and insurance-linked securities (ILS) investment manager, said it is combining its catastrophe bond team and private ILS focused team for analytics, portfolio and investment management.
The firm said the reorganization is intended to create a more efficient approach to managing dedicated strategies and blended portfolios, including liquidity-focused cat bond exposure across the funds and mandates it runs.
Twelve Securis also disclosed that long-standing senior employee Etienne Schwartz, most recently Chief Investment Officer for liquid strategies, is set to depart. The company said it has been building in technology and artificial intelligence to support portfolio analytics and portfolio construction for cat bond and private ILS transactions.
In addition, the firm said Jed Scanlon, an ILS analytics specialist, is also expected to leave after more than three years. Twelve Securis said the largest UCITS cat bond fund it manages is over US$4.65 billion, alongside other cat bond mandates and private ILS more focused strategies.