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Hannover Re’s K-Cessions sidecar could have Ukraine exposure

Global reinsurance company Hannover Re could find some support from its capital markets backed K-Cessions quota share sidecar facility for certain non-war specialty lines exposures to the ongoing conflict in Ukraine. Speaking during a briefing today, Sven Althoff, a member of Hannover Re’s executive board focused on property and casualty reinsurance, read the full article →

Hannover Re shrinks K-Cessions sidecar & retro at “challenging” renewal

Hannover Re faced more challenging market conditions when placing the renewal of its retrocession program at 1/1, resulting in a shrinking of protection, with its capital markets backed K-Cessions quota share sidecar facility declining 26% to around $450 million. Almost all of Hannover Re's core retrocession protections are smaller for 2022, read the full article →

Maturity extended for $110m of Hannover Re’s Seaside Re private cat bonds

Almost $110 million of Seaside Re private catastrophe bond transactions have had their maturity dates extended, suggesting that these privately placed ILS deals, that were issued by German reinsurance firm Hannover Re’s segregated accounts vehicle, Kaith Re Ltd., might be considered at-risk of loss. Typically, a catastrophe bond or other insurance-linked read the full article →

Hannover Re’s comprehensive retro drives investor confidence: Berenberg

Reinsurance as a sector and the major global reinsurers have suffered due to elevated catastrophe losses in recent years, but analysts at investment bank Berenberg believe that Hannover Re's comprehensive retrocession program is giving investors confidence and helped to buoy its share price in 2021. Of the big four European reinsurance read the full article →

Hannover Re brings $84.5m of Seaside Re private catastrophe bonds

Global reinsurance giant Hannover Re has facilitated the issuance of another $84.5 million of Seaside Re private catastrophe bonds for 2022, with another eight issuances from its Kaith Re transformer vehicle coming to light. Already in 2022, we've tracked $39 million of private catastrophe bonds in which Hannover Re has helped read the full article →

Hannover Re’s vehicle Kaith Re issues $39m of private cat bonds

German reinsurance company Hannover Re has facilitated issuance of two new private catastrophe bond transactions, a $15 million California quake focused LI Re (Series 2022-1) and $24 million Seaside Re (Series 2022-1) covering unknown U.S. property catastrophe risks. Hannover Re continues to help investors to access reinsurance related risk and return read the full article →

Hannover Re forecasts up to EUR250m loss from European floods

German reinsurance giant Hannover Re has revealed in its first-half results this morning, that it is anticipating a net loss of up to EUR 250 million from the recent severe flooding across Europe and in particular Germany. It's important to note that this is an early estimate following an initial analysis read the full article →

Hannover Re cedes up to 32% of cats, 24% of COVID losses to retro in 2020

German reinsurance giant Hannover Re benefited from its retrocessional protections throughout 2020, potentially ceding almost one-third of natural catastrophe losses and 24% of its losses from the COVID-19 pandemic. The reinsurer reported its full-year 2020 results this morning, revealing that large losses came in well above budget for its P&C reinsurance read the full article →

Hannover Re shrinks K-Cessions to $610m in “successful” retro renewal

German reinsurance firm Hannover Re has downsized its capital markets backed K-Cessions quota share retro reinsurance sidecar facility to $610 million for 2021, a roughly 10% decrease from the prior year. At the same time the company expanded its aggregate and whole account excess of loss retrocession protections, but not enough read the full article →

Hannover Re lifts Seaside Re catastrophe bonds to $136.4m for 2021

Hannover Re, the German headquartered global reinsurance firm, has facilitated another three Seaside Re private catastrophe bond transactions around this January 2021 renewals, taking the total seen to $136.4 million across ten transactions. As we explained yesterday, we had seen the first seven of these transactions, as Hannover Re's Bermuda based read the full article →