LI Re (Series 2015-1)

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LI Re (Series 2015-1) – At a glance:

  • Issuer: LI Re (Series 2015-1)
  • Cedent / sponsor: Unknown
  • Placement / structuring agent/s: ?
  • Risk modelling / calculation agents etc: ?
  • Risks / perils covered: Property catastrophe risks
  • Size: $3.75m
  • Trigger type: Unknown
  • Ratings: NR
  • Date of issue: Apr 2015

LI Re (Series 2015-1) – Full details:

In this latest LI Re private cat bond, LI Re (Series 2015-1), $3.75m of notes have been issued by Kaith Re Ltd., acting on behalf of its segregated account LI Re.

As with the previous deals it sees Hannover Re working on behalf of a cedent and likely a single investor as a transformer and private cat bond service provider, taking a collateralized reinsurance contract and securitizing it through Kaith Re.

The $3.75m of Series 2015-1 notes issued in this private cat bond deal have a due date of 30th April 2016, suggesting it is an April renewal deal. As with the other LI Re private cat bonds we assume that these cover property catastrophe risks, but details of the exact nature of the transaction are unavailable.

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