Hannover Re has announced that it has increased the volume of its K6 transaction (originally issued in 2009). K6 is comprised of portfolios of non-proportional reinsurance treaties in property catastrophe, marine and aviation lines.
The transaction has been upped by the maximum targeted amount of $152m and now represents a total volume of $329m. The additional capital was secured from both existing investors and also investors new to this particular transaction. Hannover Re stated that investor demand outstripped supply which is again a good indicator of demand for these assets now the market has recovered.
The full press release from Hannover Re can be found here.