Dodeka IX

The Artemis Catastrophe Bond and Insurance-linked Securities Deal Directory aims to provide a one-stop resource for information on every cat bond and ILS transaction we hold information on. The content of this Deal Directory is provided as is and there will be some omissions. Help us to keep these cat bond and ILS transaction summaries up to date by contacting us if you see an error or omission that you can correct.


Dodeka IX – At a glance:

  • Issuer: Dodeka IX
  • Cedent / sponsor: Unknown
  • Placement / structuring agent/s: ?
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: U.S. property catastrophe risks
  • Size: $14.55m
  • Trigger type: Industry loss index
  • Ratings: NR
  • Date of issue: Jul 2016

Dodeka IX – Full details:

The $14.55m Dodeka IX private cat bond transaction has been issued using the Artex SAC Limited ILS Note Program II segregated accounts company vehicle. Dodeka IX represents just one segregated account of the Artex SAC ILS note program, and has been securitised into private cat bond form resulting in the issuance of $14.55m of ILS notes.

The $14.55m transaction of insurance-linked notes are due on the 20th January 2017, so likely reflect a singal seasonal reinsurance or retrocession contract, covering the north American hurricane season throughout 2016.

It’s assumed that this transaction transforms an industry-loss warranty (ILW) contract, using a PCS industry loss trigger and so covers U.S. natural catastrophe perils, as has been typical of Twelve’s Dodeka private cat bonds to date. We cannot 100% confirm this though.

Dodeka IX’s $14.55m of notes have been listed on the Bermuda Stock Exchange, to enhance the liquidity of the issuance offering Twelve Capital improved options and transparency to trade the notes on the secondary cat bond market should they choose to.

Survey imageAlongside our sister publication Reinsurance News, we’ve launched a new survey for the insurance, reinsurance and insurance-linked securities (ILS) industry, asking for your opinion on the market implications of the Covid-19 coronavirus pandemic. Answer our survey here.

Read Covid-19 coronavirus related news & analysis here.

Print Friendly, PDF & Email

« Go back to the Catastrophe Bond Deal Directory

Help us keep this valuable resource up to date. If you have information on a catastrophe bond or insurance-linked security deal we have not covered or can see something that we should change, please contact us to let us know.