Swiss bank GKB acquires 30% stake in ILS manager Twelve Capital

Twelve Capital, the Zurich-based investment manager focussed on catastrophe bond and insurance linked securities (ILS), has agreed to a strategic investment from Switzerland’s Graubündner Kantonalbank (GKB) in exchange for a 30% stake in the company.

Twelve Capital specialises in investments in the insurance sector, and the financial investment from GKB is intended to bring stability to its shareholders, as well as support its growth objectives.

Through the deal, Twelve Capital and GKB believe “meaningful synergies can be exploited, especially in the Swiss market, and mutual competencies can be strengthened."

A representative of GKB will serve as a member of the board of directors of Twelve Capital. The strategic financial investment also strengthens GKB's position as an investment house.

Subject to the approval of the competent authorities, the transaction is expected to close in Q2 2022.

Urs Ramseier, executive chairman of Twelve Capital, said: "The strategic investment brings stability to our shareholder base and together with GKB we can continue to pursue our growth objectives."

Daniel Fust, chief executive officer of GKB, added: "We are proud to be able to take this step and thus strengthen our sound investment expertise and expand the range of investment solutions. We are pleased to be able to offer our customers new opportunities in this way."

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