LI Re (Series 2026-1)

Hannover Re has utilised its Bermuda domiciled segregated accounts and reinsurance transformer vehicle Kaith Re Ltd. to issue a new $2 million LI Re Series 2026-1 private catastrophe bond arrangement.

Hannover Re has facilitated the transaction, with these private cat bonds typically helping an unknown cedent access capital markets backed sources of reinsurance capacity, or helping investors access a source of insurance risk-linked returns.

For this latest private insurance-linked securities (ILS) arrangement, Hannover Re’s Bermuda domiciled reinsurance transformer and segregated account company Kaith Re Ltd., acting on behalf of its segregated account named LI Re, has issued $2 million of LI Re Series 2026-1 private cat bond notes that have been placed privately with qualified investors.

This new $2 million LI Re Series 2026-1 private cat bond, transforms and securitizes an underlying reinsurance or retrocession related contract, with the risks contained in the segregated account, and these notes are scheduled for maturity on March 15th 2027, we understand.

The $2 million of LI Re Series 2026-1 private cat bond notes have been listed on the Bermuda Stock Exchange (BSX) as Section V – Insurance Related Securities and were privately placed with qualified investors, we understand.