Twelve Capital
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The funds were raised over 18 months, portfolio manager Florian Steiger said.
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Palomar has also said it does not expect the quake of 5 July to hit its reinsurance programme.
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The Zurich-based fund manager will no longer manage two Falcon cat bond funds. -
Zurich-based Solidum Partners will oversee the two funds, estimated to be worth $400mn, from 1 August.
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The ILS fund manager said the rationale behind model updates will be followed closely.
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The latest issuance brings Twelve Capital’s Dodeka issuance for this year up to $113.36mn.
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Raffaele Dell’Amore’s principal focus will be on private ILS strategies.
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The manager said it also expected currently attractive cat bond opportunities to dissipate later in 2019.
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The Dodeka XX notes were listed on the Bermuda Stock Exchange yesterday.
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Two transactions were issued on the Bermuda Stock Exchange.
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The manager also said the spread-widening associated with Florence and Michael had a dampening effect on cat bond performance.
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The manager is aiming to sell its products to investors in the UK and French-speaking Europe.
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