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Twelve Capital closes $21.3M private cat bond issuance

Switzerland-based investment manager Twelve Capital hascompleted the issuance of Dodeka X, a private catastrophe bond approximately$21.3 million in size, Artemis reported.

The notes are listed on the Bermuda Stock Exchange and are dueJuly 27, 2017. They represent an annual reinsurance or retrocession contractthat will likely cover U.S. perils, according to the report.

The insurance-linked securities blog reported earlier thatTwelve Capital has closedthe issuance of a $14.6 million Dodeka IX private catastrophe bond.