Twelve Capital, the Zurich-based independent investment manager, has issued another cat bond using a unique structure whereby three different events must occur before it is triggered.
Dodeka III is a $10 million zero-coupon one-year cat bond that covers multi-peril risk in the US. In order for the bond to be triggered, at least three independent events have to reach a predefined loss level.
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Twelve Capital, Europe, Cat Bond, Roman Muraviev, North America
