Twelve Capital extends €20m to Danish insurer

The credit line provides Alpha Insurance with fresh capital ahead of the industry’s new Solvency II capital requirements.

Twelve Capital has provided a Danish insurance company, Alpha Insurance, with a €20 million ten-year debt facility, the investment manager said on Monday.

The credit is a listed, unrated note and provides Alpha with Solvency II-compliant tier 2 capital.

“Alpha Insurance has for some time been looking around the financial markets to find a way to strengthen its balance sheet, not only to prepare for Solvency II regime, but also to support the continued growth of the company,” Leif Corinth-Hansen, chief executive of Alpha Insurance, said in a statement. “In Twelve Capital we found a partner, which not only had sufficient funds, but even more important a team of dedicated highly qualified employees, who knew insurance business in and out, making the process both quick and efficient.”

The lender specialises in insurance-related investments including insurance-linked securities as well as managing portfolios of liquid and private debt instruments. The firm aims to offer investors exposure to the insurance market.

Twelve Capital is majority owned by its investment team and is based in Switzerland and the UK.