Kaith Re

A new private catastrophe bond has been issued by German reinsurance company Hannover Re’s Bermuda-based structure Kaith Re Ltd., with $15 million of LI Re (Series 2025-2) notes issued to support what is assumed to be a privately placed collateralized and securitized catastrophe reinsurance arrangement for an unknown sponsor.

Kaith Re Ltd., the transformer vehicle owned and operated by global reinsurance firm Hannover Re, has issued a new private catastrophe bond arrangement, with a $19.05 million tranche of Seaside Re (Series 2025-61) notes issued and privately placed with investors, Artemis has learned.

Artemis has learned of a new $9.525 million private catastrophe bond that has been issued by German reinsurance company Hannover Re’s Bermuda-based structure Kaith Re Ltd., with the LI Re (Series 2025-1) deal assumed to be providing privately placed collateralized and securitized catastrophe reinsurance capacity for an unknown sponsor.

Global reinsurance firm Hannover Re has successfully sponsored a renewal of its landmark parametric cloud outage catastrophe bond, securing $20 million in retrocessional cyber reinsurance protection covering cloud outage events from a new Cumulus Re (Series 2025-1) issuance, with the support of Parametrix.

Kaith Re Ltd., the transformer vehicle owned by global reinsurance firm Hannover Re, has issued seven series of private catastrophe bond notes, all Seaside Re (Series 2025), for a total of $84 million of notes sold to investors.

Kaith Re Ltd., the transformer vehicle owned by global reinsurance firm Hannover Re, has issued another private catastrophe bond, with just over $10 million of Seaside Re (Series 2024-61) notes sold to investors.

Some $60.5 million of the Seaside Re private catastrophe bond transactions facilitated by global reinsurance firm Hannover Re have now been allowed to mature, reducing the amount outstanding with their maturity dates extended to $78.25 million and those remaining have had their maturity dates pushed further out to October.

A new $5 million private catastrophe bond issued by German reinsurance company Hannover Re’s Bermuda-domiciled vehicle Kaith Re Ltd. has come to light, with the LI Re (Series 2024-1) deal assumed to be providing privately placed collateralized and securitized catastrophe reinsurance capacity for an unknown sponsor.

Some $131.25 million of Hannover Re’s Seaside Re private catastrophe bonds have had their maturity dates extended further into 2024, as uncertainty continues over many of the 2021, 2022 and 2023 vintage deals.

The arrival of the world’s first cloud outage catastrophe bond was viewed very positively, and provides investors with a new avenue into the cyber insurance-linked securities (ILS) space, according to Henning Ludolphs, Managing Director Retrocession and Capital Markets at Hannover Re.