LI Re (Series 2026-3)

Using its Bermuda domiciled segregated accounts and reinsurance transformer vehicle Kaith Re Ltd., global reinsurer Hannover Re has facilitated the issuance of a new $7.47 million LI Re Series 2026-3 private catastrophe bond arrangement.

This is the third issuance under the LI Re program of private cat bond deals so far in 2026.

Hannover Re will have facilitated the transaction and these private cat bonds typically enable an unknown cedent to access capital markets backed sources of reinsurance capacity. Or, they can assist an investor to access a source of insurance risk-linked returns.

For this latest issuance of a private insurance-linked securities (ILS) arrangement, also termed a cat bond lite, Hannover Re’s Bermuda domiciled reinsurance transformer and segregated account company Kaith Re Ltd., acting on behalf of its segregated account named LI Re, issued one series of notes.

The vehicle has issued $7.47 million of LI Re Series 2026-3 private cat bond notes under this latest offering.

As normal, we make the assumption that this issuance transforms and securitizes an underlying reinsurance or retrocession related contract, with the risks contained in the segregated account.

The LI Re Series 2026-3 notes are scheduled for maturity on July 15th 2027, we understand.

All $7.47 million of LI Re private cat bond notes from this Series 2026-3 issuance are now listed on the Bermuda Stock Exchange (BSX) as Section V – Insurance Related Securities and were privately placed with qualified investors.