Hannover Re issue property-catastrophe sidecar Globe Re

Share

Hannover Re have stepped into the alternative market again by sponsoring a 1 year retrocessional sidecar Globe Re. The deal comprises $100m of debt securities and $33m of equity. Moody’s have announced the ratings given to the security tranches as Baa3 to the $45m tranche A, Ba2 to the $40m tranche B and B2 to the $15m tranche C. Each tranche has a different probability of attachment, expected loss, and priority with respect to interest and principal payments.

Globe Re will assume a majority share of the premiums and losses on some Hannover Re’s U.S. property catastrophe reinsurance contracts with clients.

We’ve added this issue into our Deal Directory.

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.

Read previous post:
Demand outstrips supply for catastrophe bond investors

There's a great article on Bloomberg (available here) discussing catastrophe bonds both from investors and insurers points of view. The...

Close