For the insurance-linked securities (ILS) asset management sector, operational capabilities are going to be key, while the transformative potential of artificial intelligence (AI) means it must be considered, Dr.Urs Ramseier, CEO of Twelve Securis told Artemis in an interview just before the Monte Carlo Rendez-vous event.Twelve Securis, being born out of that created an insurance and reinsurance linked investment focused power-house with around US $9.6 billion of assets as of June 30th 2025, is a good case study for a business with operational focus in the sector.Merging businesses is never a simple task, so we spoke with Ramseier to discuss how the process has gone and get his thoughts on what will be important for the ILS manager community over the coming year.

The Twelve Securis CEO explained that the sector can often be narrowly focused on the catastrophe risks it invests in, when there is a need for larger asset managers in ILS, catastrophe bonds and reinsurance to take a broader view and consider macro-factors.Ramseier explained, “We think global investment themes such as geopolitics can sometimes be overlooked when discussing ILS, due to the well-noted and proven low correlation of ILS returns with broader traditional assets.However, geopolitical and macroeconomic fragmentation raise the cost and complexity of participating in all global risk markets, including ILS, despite its unique risk-return profile.

“For example, trade restrictions, sanctions, and differing regional requirements increase compliance burdens, potentially slowing deal execution and increasing costs.Investor behaviour also plays a role: risk appetite affects liquidity, willingness to commit capital, and fundraising dynamics.” Moving on to discuss why this is important, Ramseier stressed that operational excellence is key, “This observation underscores the need for asset managers to have robust operational platforms and strong in-house expertise—not only in catastrophe risk but also in compliance, legal risk, and risk management frameworks.“Managers require replicable, scalable, institutional investment processes that can adapt to new and evolving risks.

These capabilities enable them to navigate the increasing complexity of the market while continuing to deliver consistent value to investors.” This is a key tenet of the Twelve Securis business for Ramseier, that being institutional-grade is critical and having the right foundations, in operational terms, is critical to being a long-standing, larger asset manager in insurance-linked securities (ILS) and other reinsurance-linked investments.“Our business stands out through several core strengths.As a large, scalable manager with institutional-grade resources, we combine a deep, nuanced understanding of risk—built on multi-model frameworks, rigorous validation, and integration of the latest academic research—with robust operational capabilities that ensure efficiency and agility,” Ramseier explained.

Ensuring that the Twelve Securis team appropriately take technology into consideration and leverage its benefits in the business, beyond the catastrophe risk models and portfolio management tools that are so core to ILS managers, is also an area of focus for Ramseier.“We believe that not considering the transformative potential of AI is simply not an option,” he told us.“There are various ways to leverage AI’s power in the market, most notably in risk analytics.

However, AI’s role goes beyond analytics—it can support operational tasks, enhance client engagement, and improve overall efficiency.“That said, while AI offers tangible benefits, integration needs to be thoughtful and deliberate.True understanding of risk remains paramount, so any technology adoption must be transparent and subject to rigorous control.” Ramseier and the Twelve Securis team are building an ILS investment manager that has the scale, operational rigour and technological prowess to attract the highest institutional grade capital, while ensuring it can participate across the chain of reinsurance investment opportunities.

Operational capabilities are a critical consideration for large institutions when considering allocations and as the ILS market continues to mature, it is only going to become more important.Looking ahead, Ramseier commented, “Our investor-centric business model enables us to maintain transparent communication and deliver consistent returns even as the market grows in complexity and activity.“By participating across the property catastrophe market in reinsurance, retrocession and cat bonds, we are poised to exploit the best opportunities for investors as the market evolves into 2026.” ..

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