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Twelve Capital closes $11.5M private cat bond

Switzerland-based reinsuranceinvestment manager Twelve Capital has completed the issuance of its $11.5million Dodeka V-2016 private cat bond, Artemis reported.

The notes are listed on the BermudaStock Exchange and are due Jan. 5, 2017. The notes could represent a seasonalreinsurance or retrocession contract covering the Atlantic hurricane season,the news outlet reported.