Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

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: $43m
  • Trigger type: Unknown
  • 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 (US$43m). 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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