10 January 2018Alternative Risk Transfer

Twelve Capital issues second event risk cat bond

Twelve Capital has completed a $35 million private catastrophe bond designed to cover second event risk across all natural perils in the US.

Dodeka XIV represents the latest instrument in its series of private cat bonds. Cat bonds issued out of Twelve Capital’s bespoke Dodeka programme are only available for funds and mandates managed by Twelve Capital. These have fully absorbed the entire issuance of this transaction.

“The Dodeka programme allows our cat bond funds to invest into perils that are not readily available in securities format, resulting in improved portfolio diversification, or into transactions exhibiting more attractive economic terms. Especially in the aftermath of the recent hurricanes, the Dodeka programme allows Twelve Capital’s investors to benefit from the current increases in premiums across collateralised reinsurance and retrocession markets,” said Sandro Kriesch, managing partner and head of ILS at Twelve Capital.

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More on this story

18 September 2017   Twelve Capital, an investment firm specialising in insurance investments, said on Sept. 18 that it hired Aaron Coates to the firm’s London office.
10 May 2017   Twelve Capital Group has revealed that it was the lead investor in $45.5 million private debt transaction with Catalina General Insurance, a subsidiary of Catalina Holdings, Bermuda.
12 January 2018   Investment manager Twelve Capital has revealed details of some of the recent private debt deals it has completed for insurers.