Falcon Private Bank, the Swiss firm owned by Abu Dhabi-based aabar Investments PJS, announced it has transferred management of its insurance-linked securities business to Twelve Capital, a firm based out of Zurich.

The move will primarily affect investment funds that are domiciled in and regulated in Switzerland, Falcon said in a statement today.

The Swiss private bank has made a number of moves lately to intensify its focus on wealth management; in April, it completed its acquisition of Clariden Leu (Europe) from Credit Suisse.

“With this collaboration and the integration of the existing management team, Twelve Capital will guarantee continuity for existing Falcon Private Bank clients and ensure that the ILS activities are optimally integrated into Twelve Capital's core business,” the statement said.

Both organisations said they have agreed not to comment on the details of the transaction, which is subject to approval by the supervisory authorities in Switzerland and Luxembourg.

Twelve Capital is an independent investment boutique specialising in insurance-related investments, such as insurance-linked securities and subordinated insurance bonds. Its clients are large institutional investors in Europe. Its team comprises insurance industry specialists with outstanding track records.