We offer alternative returns

Our focus is the secondary market for US life insurance policies. We offer investors both risk diversification and attractive returns. The main risk in this asset class is longevity, which is uncorrelated to most other asset classes.

Fund

We invest in an asset class which offers both risk diversification and attractive returns.

Read more about our fund.

Invest

Attractive returns combined with excellent credit quality – a good long term investment.

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Performance

The fund aims to deliver consistent long-term performance.

Check the performance.

About Resscapital

Resscapital AB is an alternative investment fund manager (AIFM) authorised and regulated by the Swedish Financial Services Authority (Finansinspektionen).

We have since 2011 bought a diversified life insurance portfolio on behalf of Ress Life Investments, which is listed at Nasdaq Copenhagen. Proprietary portfolio management systems and pricing models have been developed, in order to gain an advantage when purchasing policies. The company also collaborates with an independent medical underwriter specialising in senior mortality in order to provide more accurate assessments and mortality distributions.

Our management team has extensive experience in life settlements, complimentary backgrounds and international experience from having worked at major banks and hedge funds. The board of directors consists of both successful entrepreneurs and senior managers with extensive experience from the financial industry.

We Offer Alternative Returns

The secondary market for US life insurance policies offers long-term investors both risk diversification and attractive returns. The main risk, longevity, is uncorrelated to most other asset classes. We have since 2011 sourced life insurance policies in order to build a diversified life insurance portfolio. Our strategy aims to systematically mitigate the longevity risk by carefully selecting policies using quantitative methods. The fund obtains a life expectancy report from an independent medical underwriter, in most cases. Our proprietary premium optimization algorithms are highly advanced and create a competitive advantage.

Life Settlements

The secondary market in US life insurance policies, also known as life settlements, offers investors the opportunity to purchase life insurance policies at a discount to face value. The estimated size of the annual turnover in the secondary market was approx. 3.9 USD billion in 2014 according to Conning Research. The key investment features making this an attractive asset class are attractive yields combined with excellent credit quality and low correlation with bonds and equities.

News

Management

Jonas Martenson - RessCapital
Jonas MartensonSales Director and Founder

Jonas Martenson has an international finance background and has lived in Switzerland, Belgium and the UK. In Switzerland he worked with OTC derivatives and then moved to Brussels to work in fund management. In 1996 he joined Schroders in London and subsequently worked for Bear Stearns and Merrill Lynch focusing on selling OTC derivatives and structuring derivative products to European institutional investors. Prior to co-founding Resscapital AB, Jonas was Head of Derivative Sales at Hypovereinsbank in London. Jonas holds a M.Sc. in International Economics from the Gothenburg School of Economics.

Andreas Ametrin - RessCapital
Andreas AmetrinHead of Portfolio Management

Andreas Ametrin was previously Partner and Team Leader at a major multi-strategy hedge fund in London where he analyzed and developed trading strategies and risk management tools. Andreas also worked for a number of years at Sungard in Stockholm, where he was responsible for valuation of credit derivatives and general interest rate modelling. He also has extensive experience in programming and risk calibration of model parameters. Andreas holds a M.Sc in Industrial Engineering and Management from the Linkoping Institute of Technology in Sweden.

Anton Pozine - RessCapital
Anton PozinePortfolio Manager

Anton Pozine came in contact with life settlements while writing a Master’s thesis on premium modeling and optimization for life insurance policies. Since 2011, he held various positions including junior portfolio manager both in Sweden and Luxembourg. Anton holds a M.Sc. in Industrial Engineering and Management from the Linkoping Institute of Technology in Sweden.

Gustaf Hagerud
Gustaf HagerudManaging Director and Valuation Manager

Gustaf was previously Partner at the fund manager Kestrel Investment Partners in London. Before moving to London, Gustaf was Head of Asset Management and deputy CEO of the public pension fund AP3, one of the largest pension funds in Scandinavia with global investments in most asset classes. Gustaf worked for seven years at AP3 and prior to that ten years with global tactical asset allocation at Alecta and AP1. He has also been a trader in various positions at Nordea and Swedbank. Gustaf holds a PhD in Finance from Stockholm School of Economics, a MA in Economics from University of British Columbia and a BA in Economics from the University of Stockholm. His research is focused on volatility forecasting. He is also an author of a textbook on the Swedish financial markets.

Board

Niklas Midby - RessCapital
Niklas MidbyChairman of the Board

Niklas Midby has a background mainly in finance. Niklas begun his career in consulting and then spent twelve years in investment banking where he held various senior positions in corporate finance and private equity. Returning to Sweden, Niklas joined OM (now Nasdaq OMX) where he was responsible for all exchanges and clearing houses, including the Stockholm Stock Exchange. Since 2003 he manages his own investment company and serves on several boards, including as Chairman of Skandiabanken ASA. Niklas holds an B. Sc. from the Stockholm School of Economics.

Erik Mitteregger - RessCapital
Erik MittereggerNon-Executive Director of the Board

Erik Mitteregger has a background within equity research and alternative investment management. Erik held the position as Head of Research and member of the Group Management Board at Alfred Berg Fondkommission in the early 1990’s. In 1995 he co-founded Brummer & Partners Asset Management. Together with his partners he introduced hedge fund management to Sweden and built what is today one of Europes leading managers of alternative investment funds. In 2002 he left Brummer & Partners in order to pursue other interests. He has since then established his own group of industrial companies and also serves on several company boards, among them the listed company, Kinnevik. Erik holds a B.Sc. from the Stockholm School of Economics.

Jonas Martenson - RessCapital
Jonas MartensonSales Director and Founder

Jonas Martenson has an international finance background and has lived in Switzerland, Belgium and the UK. In Switzerland he worked with OTC derivatives and then moved to Brussels to work in fund management. In 1996 he joined Schroders in London and subsequently worked for Bear Stearns and Merrill Lynch focusing on selling OTC derivatives and structuring derivative products to European institutional investors. Prior to co-founding Resscapital AB, Jonas was Head of Derivative Sales at Hypovereinsbank in London. Jonas holds a M.Sc. in International Economics from the Gothenburg School of Economics.

Claes-Johan Geijer - RessCapital
Claes-Johan GeijerNon-Executive Director

Claes-Johan Geijer has a background within management in industrial corporations and banking. Claes-Johan worked for more than ten years at Swedish Match, Stora and Lexmar Corporation in various countries. He then became Managing Director of Swedbank in Luxembourg and in London and thereafter Senior Vice President at Swedbank in Stockholm. He then became a partner in a Swedish venture capital company. After leaving in 2001 he became the Managing Director of Banque Carnegie Luxembourg and for several years also served as Group Head of Private Banking within the Carnegie Group. Since 2012 he serves on several boards. He holds a B.Sc. from the Stockholm School of Economics.

SUSTAINABILITY

Resscapital is regulated as an alternative investment fund manager (AIFM). Thus, we are already required to have a number of guidelines and policies in place, including ethical guidelines, insider trading policy, money laundering policy, a policy for equal treatment of investors etc.

As a company, we want to do more.

RESOURCES

LIFE INSURANCE SETTLEMENT ASSOCIATION

www.lisa.org

BVZL, GERMAN ASSOCIATION FOR LIFE INSURANCE SECONDARY MARKET

www.bvzl.de

NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS

www.naic.org

PRINCIPLES FOR RESPONSIBLE INVESTMENT

www.unpri.org