Twelve Securis
Twelve Securis is an independent institutional investment manager specialising in insurance-linked securities. It manages ~USD 9.6 billion AUM across Cat Bonds, Private ILS, Insurance Bonds, and Insurance Private Debt for pension funds, sovereign wealth funds, family offices, and wealth managers globally.
- Company typePrivate
- Founded2005
- HeadquartersZürich, Switzerland
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Twelve Securis does
Twelve Securis is an independent, privately held institutional investment manager specialising in insurance-linked securities (ILS), formed from the November 2024 merger of Twelve Capital and Securis Investment Partners, both with operating histories dating back to 2005. The firm manages approximately USD 9.6 billion in assets under management (as of 31/03/26) and positions itself as one of the largest dedicated insurance/ILS investment managers globally. It serves institutional clients including pension funds, sovereign wealth funds, family offices, and wealth managers, conducting operations across five global offices in Zurich (FINMA-regulated headquarters), Munich (BaFin), London (FCA, also SEC-registered), Hamilton, Bermuda (BMA), and Tokyo (Japan FSA), with ~90+ team members led by CEO Dr. Urs Ramseier.
The firm's product platform spans five core strategies: ILS Catastrophe Bonds (liquid, tradable instruments providing exposure to tropical cyclones, earthquakes, and other catastrophes, with up to weekly liquidity in UCITS format); Private ILS (bespoke private (re)insurance transactions offering higher yields via illiquidity premiums); Insurance Bonds (investment-grade fixed income from insurance issuers); Insurance Private Debt (tailored debt financing to small and mid-sized insurers); and Multi Asset (blended insurance exposure combining Cat Bonds, Insurance Bonds, listed Insurance Equity, and optionally Private ILS/Insurance Private Debt). Investment decisions are supported by proprietary catastrophe risk modelling, integrated climate research, and seasonal forecasting that explicitly incorporates El Niño/La Niña pattern analysis for Atlantic hurricane positioning.
Revenue is generated through management and performance fees on AUM, distributed via direct institutional sales, UCITS fund format, custom mandates, and strategic partnerships - most notably the Mosaic ILS Fund launched in February 2026 with Union Bancaire Privée. Pricing is prospectus-based and not publicly disclosed. The firm is independent from (re)insurance groups, has been a UNPRI signatory since 2017, and operates under six distinct regulatory authorisations that collectively create high barriers to entry for would-be competitors.
Twelve Securis firmographics
Firmographics- Name
- Twelve Securis
- Legal name
- Twelve Securis
- Website
- https://twelvesecuris.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Twelve Securis is an independent institutional investment manager specialising in insurance-linked securities. It manages ~USD 9.6 billion AUM across Cat Bonds, Private ILS, Insurance Bonds, and Insurance Private Debt for pension funds, sovereign wealth funds, family offices, and wealth managers globally.
- Ownership category
- akta.pro rank
Twelve Securis industry classification
Industry- Product category
- Insurance-Linked Securities Investment Management
- NAICS
- Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Securitized Products (MBS/ABS/CMBS) (FSAAAHAE)
- akta.pro secondary industry
- Fixed Income Mutual Funds (FSAAAEAB)
Keywords
Where Twelve Securis is headquartered
LocationHeadquarters
- HQ city
- Zürich
- HQ country
- Switzerland
- HQ region
- Europe
Offices5 records
Markets served
Twelve Securis business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Fund Management / Advisory Fees: Twelve Securis generates revenue through management fees and potentially performance fees charged on assets under management across its Cat Bond, Private ILS, Insurance Bond, Insurance Private Debt, and Multi Asset strategies. The firm operates as an investment manager offering UCITS funds, custom mandates, and bespoke portfolio solutions to institutional clients.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Institutional fund management services with prospectus-based pricing |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
Twelve Securis product offering
Product offeringCore offering
Twelve Securis is an independent, specialist institutional investment manager focused on insurance-related investments, offering UCITS funds and bespoke mandates across Catastrophe Bonds (ILS), Private ILS, Insurance Bonds (insurance credit), Insurance Private Debt, and Multi Asset strategies. The firm manages approximately USD 9.6 billion in assets for professional investors such as pension funds, sovereign wealth funds, family offices, and wealth managers across Switzerland, Germany, the UK, Bermuda, Japan, and the US.
Product overview
Twelve Securis operates as a diversified investment management platform offering multiple insurance-linked investment products. The core offerings include ILS (Catastrophe Bonds) for liquid, tradable instruments providing exposure to natural catastrophe risks; Private ILS for bespoke private (re)insurance transactions with higher illiquidity premiums; Insurance Credit (Insurance Bonds) as a fixed income offering focused exclusively on debt issued by insurance companies; Insurance Private Debt for tailored debt financing solutions to insurers; and Multi Asset portfolios blending Cat Bonds, Insurance Bonds, and listed Insurance Equity. These products are available in UCITS format as well as custom mandates, enabling investors to capture alternative risk premia with varying liquidity preferences.
Differentiator
Problem solved
Functional benefit
Products and services
- ILS (Catastrophe Bonds) Catastrophe Bond strategy allowing capital market participants to invest into event risks via liquid and tradable instruments. Risks covered include tropical cyclones, earthquakes and other catastrophes, with up to weekly liquidity via UCITS format and historically attractive spreads. Available to professional investors via Twelve Capital and Securis product pages.
- Private ILS Private Insurance-Linked Securities strategy providing access to tailored, private (re)insurance transactions unavailable in public markets. Covers diverse (re)insurance risks, often offering higher yields than Cat Bonds due to bespoke structures and associated illiquidity premiums.
- Insurance Credit (Insurance Bonds) Actively managed traditional Fixed Income strategy focused exclusively on debt issued by insurance companies, capitalizing on liquid, investment-grade opportunities across global markets with a focus on Europe.
- Insurance Private Debt Bottom-up, fundamentally driven strategy providing tailored debt financing solutions to insurers with strong balance sheets and prudent risk profiles. Aims to deliver attractive credit and illiquidity premiums for diversification and long-term growth.
- Multi Asset Multi Asset strategy blending Cat Bonds, Insurance Bonds and listed Insurance Equity. Available in UCITS format as well as custom mandates that can extract illiquidity premia by adding Insurance Private Debt and Private ILS.
- Mosaic ILS Fund Jointly developed ILS fund managed by Twelve Securis with Union Bancaire Privée (UBP) acting as strategic partner in development and distribution. Provides institutional investors with diversified insurance-linked exposures combining Twelve Securis' ILS expertise with UBP's distribution capabilities.
Quantifiable outcome
- USD 9.6 billion in assets under management
- +2 more outcomes
Companies that use Twelve Securis
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Twelve Securis technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Twelve Securis partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Union Bancaire Privée (UBP)coreTwelve Securis and Union Bancaire Privée (UBP) strengthened their cooperation through the launch of the Mosaic ILS Fund, a newly developed ILS fund managed by Twelve Securis, with UBP acting as strategic partner in the development and distribution of the strategy. The collaboration reflects the shared commitment of both firms to delivering innovative investment solutions in a dynamic but evolving market environment.
- UNPRI (UN Principles for Responsible Investment)coreTwelve Securis is a signatory of UNPRI since 2017, demonstrating commitment to responsible investment practices and alignment of principles with investors through a diligent and responsible approach to Environmental, Social and Governance considerations at both investment and corporate level.
Scale indicators6 records
Recent moves7 records
Expansion highlights6 records
Twelve Securis competitors and assessment
Company assessmentDirect peers
- Leadenhall Capital Partners: Leadenhall Capital Partners is a London-based ILS investment manager with deep specialisation in life and non-life insurance-linked securities. It operates a similar boutique, research-led model and targets pension funds and insurance balance sheets for its private ILS and life ILS funds.
- Nephila Capital (Man Group): Nephila Capital, now part of Man Group, is widely regarded as the largest ILS investment manager and the pioneer of the modern catastrophe bond market. It competes head-to-head with Twelve Securis across Cat Bonds, Private ILS, and weather/renewable energy strategies.
- Schroders ILS (formerly ILSIM): Schroders' ILS team, built on its acquisition of ILS Investment Management, manages UCITS Cat Bond and ILS strategies for institutional clients. It is a direct competitor to Twelve Securis in the liquid Cat Bond UCITS segment and is now embedded in a larger broad-line asset manager.
- LGT ILS Partners: LGT ILS Partners is the Liechtenstein-based insurance-linked securities investment arm of the LGT Group. It manages ILS strategies with a similar multi-strategy approach (Cat Bonds, Private ILS) and competes for European institutional and private banking capital within the same geographic footprint as Twelve Securis.
- Fermat Capital Management: Fermat Capital Management is a Connecticut-based specialist asset manager focused on catastrophe bonds and insurance-linked securities. It is one of the longest-tenured pure-play ILS managers globally and competes directly with Twelve Securis for institutional Cat Bond mandates.
- Markel CATCo Investment Management: Markel CATCo is a Bermuda-based specialist reinsurance-linked investment manager, now operating under Markel. It is a direct competitor in the Cat Bond and Private ILS space with a similar focus on institutional and reinsurance capital allocations.
- Plenum Investments: Plenum Investments is a Zurich-based, single-strategy ILS asset manager specialising in catastrophe bond and insurance-linked strategies. It is a fellow Swiss pure-play ILS specialist and competes for the same pool of European institutional and family office capital.
Broad incumbents
- Hannover Re: Hannover Re is a leading global reinsurer with dedicated ILS and capital markets capabilities, including cat bond origination activity. As a broad incumbent in the (re)insurance space, it sits adjacent to Twelve Securis as both a potential counterparty/source of underwriting risk and a broader competitive force in the ILS capital landscape.
- Swiss Re Capital Markets: Swiss Re Capital Markets is the ILS and capital markets arm of global reinsurer Swiss Re, historically a leading underwriter and arranger of cat bonds. While not a pure investment manager peer, it competes in the broader ILS ecosystem as both issuer/sponsor and institutional capital arranger.
- Munich Re: Munich Re is one of the world's largest reinsurers and operates insurance-linked investment and capital markets activities through its dedicated divisions. As a broad incumbent, it represents both a competitor (for reinsurance-linked capital allocations) and a potential issuer/source of deals for Twelve Securis' portfolios.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Twelve Securis social profiles
Digital presenceTwelve Securis compliance and trust
Trust signalCompliance7 records
Twelve Securis financial estimates
Financial estimateRevenue estimate
Valuation estimate
Twelve Securis leadership team
Management profileNumber of profiles
Profiles17 records
Twelve Securis subsidiaries and ownership
Company hierarchySubsidiaries5 records
Twelve Securis funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Twelve Securis M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Twelve Securis
What does Twelve Securis do?
Twelve Securis is an independent, specialist institutional investment manager focused on insurance-related investments, offering UCITS funds and bespoke mandates across Catastrophe Bonds (ILS), Private ILS, Insurance Bonds (insurance credit), Insurance Private Debt, and Multi Asset strategies. The firm manages approximately USD 9.6 billion in assets for professional investors such as pension funds, sovereign wealth funds, family offices, and wealth managers across Switzerland, Germany, the UK, Bermuda, Japan, and the US.
Is Twelve Securis a public or private company?
Twelve Securis is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Twelve Securis founded?
Twelve Securis was founded in 2005. It employs 51 to 100 people.
Where is Twelve Securis based?
Twelve Securis is headquartered in Zürich, Switzerland, in the Europe region.
How does Twelve Securis make money?
One revenue line is on record: fund Management / Advisory Fees.
Who are Twelve Securis's main competitors?
Direct peers on record are Leadenhall Capital Partners, Nephila Capital (Man Group), Schroders ILS (formerly ILSIM), LGT ILS Partners, Fermat Capital Management, Markel CATCo Investment Management and Plenum Investments. Broad incumbents are Hannover Re, Swiss Re Capital Markets and Munich Re.
Does Twelve Securis have an API?
No public API is recorded for Twelve Securis.
What industry is Twelve Securis in?
Twelve Securis's product category is Insurance-Linked Securities Investment Management. Its primary akta.pro industry code is FSAAAHAE, Securitized Products (MBS/ABS/CMBS), with a secondary code of FSAAAEAB, Fixed Income Mutual Funds. Its NAICS code is 523940 and its SIC code is 6282.