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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 →

Hannover Re’s vehicle Kaith Re issues $76.4m of Seaside Re cat bond lites

Global reinsurance company Hannover Re has facilitated more private catastrophe bond transactions around this Janaury 2021 renewals, with the firms Kaith Re transformer having issued $76.4 million of Seaside Re cat bond lite notes, across seven transactions. These are the first Seaside Re private cat bond issuances to come to light read the full article →

Hannover Re’s “pivotal” retro program praised by AM Best

Global reinsurance firm Hannover Re had its ratings affirmed by AM Best yesterday and the agency cited the companies retrocession program as "pivotal" to its success. As we explained recently, Hannover Re has become a significant user of capital markets and insurance-linked securities (ILS) investor appetite for reinsurance related returns within read the full article →

Hannover Re’s catastrophe retro program dominated by capital markets

Global reinsurance firm Hannover Re has the capital markets at the heart of its core catastrophe retrocession program, with investors supporting some 80% of its aggregate retro and 78% of its Cat XL coverage through K-Cessions. On the whole account side, the capital markets and insurance-linked securities (ILS) investors are a read the full article →

Hannover Re expects favourable retro renewal thanks to loss record: Pickel, E+S Rück

German reinsurance company Hannover Re is expecting favourable treatment when it renews its retrocession program this year, as the company feels it has passed on fewer losses to its counterparties than many other reinsurers. Speaking today during a media briefing, Dr. Michael Pickel, the CEO of Hannover Re's German underwriting arm read the full article →

Hannover Re adds nearly $75m more Seaside Re cat bond lites

Global reinsurance firm Hannover Re has added another almost $75 million of risk capital to its Seaside Re private catastrophe bond issues for 2020 through another seven transactions, taking the total issued around this January renewal season to $151.5 million. It's around the same amount of risk capital issued using the read the full article →

Hannover Re brings $27m Seaside Re private cat bonds to investors

Hannover Re, the top-four global reinsurance firm, has facilitated issuance of another $27 million of private catastrophe bonds under the Seaside Re program, as it continues to help ceding companies and investors transact ILS deals in securitised note form. Hannover Re plays an important role in the insurance-linked securities (ILS) market, read the full article →