Twelve Capital is an independent investment manager with an exclusive focus on insurance investing. Twelve Capital's investment capabilities range from liquid and private transactions in collateralised reinsurance (Cat Bonds and Private Insurance-linked securities (ILS)) to debt (including public debt, bilateral loans and private placement bonds). The firm offers access to these comprehensive investment opportunities through fund solutions or tailor-made mandates.
Twelve Capital was founded in 2010 and is majority owned by the founding members and partners. The client base includes public and corporate pension funds, banks, corporations, fund of funds and family offices.
Twelve Capital is to launch first USD 25m Cat Bond lite
Insurance companies are issuing subordinated bonds for regulatory reasons. While institutional investors do value some of the debt instruments that have been issued, they completely seem to dislike CoCo Bonds and their risks.