Northill Capital has agreed to purchase a majority interest in Securis Investment Partners for an undisclosed sum from Securis’ external partners, including Swiss Re and Stone Point Capital.
Northill Capital Partner Jon Little said Securis is a highly successful business, with an outstanding performance track record in an exciting growth sector of the market. I have known the management team since the business was founded and we are very pleased to be entering into a long-term partnership.
"The ILS sector requires careful and skilled management of capacity growth in order to maintain performance, but is attracting considerable interest from investors seeking effective portfolio diversification and genuinely uncorrelated returns," Little said.
We believe that the combination of Northill and Securis will ensure that the business continues to grow whilst maintaining its strong investment performance."
UK based Securis, an investment manager in insurance risk-related assets manages more than $1bn of insurance linked securities across various life and non-life asset classes.
Securis Investment Partners managing partner Rob Procter said that the market for investing in insurance-related risks is set to grow strongly as insurance carriers increasingly seek to outsource such risk to the capital markets to optimize their balance sheets.
"We believe the best way to take advantage of this development is to remain focused, with a pure insurance strategy and a long-term investment horizon. Northill brings complementary experience and expertise while enabling us to preserve our approach, culture and client focus. We look forward to working together in partnership to further the growth of the business," Procter added.
The acquisition of Securis will assist Northill to achieve stable growth in target European and international markets, said the acquirer.
Jon Little and Rick Potter, partners at Northill, will join the Securis board, while Rob Procter and Espen Nordhus will remain as co-Managing Partners.
The deal has been approved by the Financial Services Authority, said the firm.