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Twelve Capital closes $14.6M private cat bond issuance

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Twelve Capital closes $14.6M private cat bond issuance

Switzerland-based reinsurance investment manager TwelveCapital has completed the issuance of a $14.6 million Dodeka IX privatecatastrophe bond, Artemis reported July 13.

The notes are listed on the Bermuda Stock Exchange and aredue Jan. 20, 2017. The notes likely represent a single seasonal reinsurance orretrocession contract covering the North American hurricane season throughout2016, the news outlet reported.

Twelve Capital also recentlycompleted the issuance of an $11.5 million Dodeka V-2016 privatecat bond.