Twelve Capital

The fund expanded its distribution efforts in the two main Australasian countries last year.

The firm will shift its private ILS strategies away from diversifying perils.

The CEO stressed that ILS’ non-correlated nature makes it an attractive asset class in periods of financial instability.

Plenum’s CEO said the hire of Grieger and a SocGen credit research leader will “unleash significant potential” by adding insurance bond capabilities.

Founding partner of Twelve Capital Sandro Kriesch said he does not expect many ILS funds to “be on the hook” for Covid BI losses.

Quota share and aggregate-property cat contracts are under watch as a result of the recent Australian bushfires but occurrence covers will probably remain mostly unscathed, sources expect.

The exposure to this transaction across private ILS strategies varies from 1.7 percent to 1.9 percent of November's portfolio, the manager said.

Artex reserved for an 8 percent loss to the $18mn aggregate retro transaction, a BSX note said

The firm's originator for private debt instruments has left.

Managing director Philipp Graf said the new arrangement with Allen Partners would bring the full suite of Twelve’s products to institutional investors in Australia and New Zealand.

The ILS fund manager has expanded its reach by teaming up with the Sydney-based capital advisory and fund placement firm.

The seventh issuance this year takes the annual total to $134.08mn.