L3 – Securitization

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L3 – Securitization – At a glance:

  • Issuer: L3 – Securitization
  • Cedent / sponsor: Hannover Re
  • Placement / structuring agent/s: The RISConsulting Group LLC acted as transaction advisor. Citibank arranged the deal.
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: Life reinsurance
  • Size: €50m ($43m)
  • Trigger type: ?
  • Ratings: ?
  • Date of issue: Nov 2000

L3 – Securitization – Full details:

L3 – Securitization of Life Reinsurance Assets.

Hannover Re completed a third transaction for the transfer of acquisition costs in life and health reinsurance to the capital markets. Designated ‘L3’, the facility has been concluded for a period of three years and comprises a financing volume of EUR 50 million. It encompasses all classes of life, health and personal accident reinsurance and is specially designed to meet the needs of insurance companies in the Asian emerging markets.

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