BMS Capital Advisory Facilitates Capital Raise by United Insurance Holdings Corp.
BMS Capital Advisory, Inc. (“BMS CA”) announces the successful completion of a $30.0m private placement of senior notes issued by United Insurance Holdings Corp. (NASDAQ: UIHC) (“UPC Insurance”) to funds managed by Twelve Capital Group, AG (“Twelve Capital”) an independent investment manager specializing in insurance investments across different asset classes.
Working proactively in the (re)insurance marketplace, BMS CA has quickly built a practice of identifying strategic capital needs from issuers, and originating effectively-priced solutions from diverse sources: traditional reinsurers, collateralized markets, ILS managers, and other institutional investors.
Romulo Braga, CEO of BMS CA, commented: “We are pleased to have facilitated this successful issuance between a company primarily focused on financial stability for its policyholders and a dynamic source of capital, actively working to respond to the demands of the marketplace and providing flexible capital solutions.”
John Butler, Head of Investment Management at Twelve Capital added that “Our Private Debt offering supports insurance companies in their quest to grow, strengthen and establish a more efficient capital base, and we are proud that UPC Insurance and BMS have chosen us as their partner for this transaction.” He added, “There is substantial potential for debt solutions for small- and mid-cap insurers, and this transaction is a prime example of the types of financing capacity that can be provided by Twelve Capital.”
The proceeds of the offering will primarily be used by UPC Insurance for general corporate purpose and to support the Company’s growth.
BMS CA is a broker-dealer registered with the SEC and a member of FINRA (www.finra.org) and SIPC (www.sipc.org).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
For further information please contact:
Haggie Partners
Peter Rigby
tel: + 44 20 7562 4444
Peter.rigby@haggie.co.uk
Samantha Whiteley
tel: + 44 20 7562 4444
Samantha.Whiteley@haggie.co.uk
Jakub Stawiski
tel: + 44 20 7562 4444
Jakub.Stawiski@haggie.co.uk
About BMS Capital Advisory, Inc
BMS Capital Advisory, a member of the group of companies owned by Minova Insurance Holdings, is a broker-dealer created to expand the group’s operational flexibility and bring alternative capital product offerings to current and prospective customers. Headquartered in New York City, with offices in Philadelphia and Minneapolis, BMS Capital Advisory advises insurance underwriters and distributors, private equity funds, and other institutional investors in the execution of select corporate finance engagements, such as mergers & acquisitions mandates and capital raise engagements, and insurance linked securities offerings.
About Minova Insurance
Minova Insurance is a holding company with investments in independently managed and separately regulated insurance businesses in both broking and underwriting. Its brokers and underwriters operate in 5 countries with 12 offices around the world employing 350 people.
For more information please visit www.minovainsurance.com
About the Twelve Capital Group
Twelve Capital Group is an independent investment manager specializing in insurance-related investments with offices in Zurich, Switzerland and London, UK. The core business of the group is the management of insurance-linked securities (ILS) portfolios together with portfolios of liquid and private debt instruments, issued by insurance companies. These strategies take advantage of the team’s extensive and long-term expertise in insurance risk, insurance regulation and insurance company balance sheets. Twelve Capital Group makes insurance-related investments accessible to institutional investors and thereby aims to generate attractive risk adjusted returns for its clients.
For more information please visit www.twelvecapital.com
*Twelve Capital Group invested on behalf of its investors