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.