Kaith Re

Seaside Re private catastrophe bond transactions from the 2020, 2021, and 2022 vintages continue to have their maturity dates extended, to allow for ongoing development of catastrophe losses that could trigger them, with almost $110 million of notes having their maturity extended out to mid-October.

There has been a further extension of maturity for a number of the 2022 vintage Seaside Re private catastrophe bond transactions that were issued by German reinsurance firm Hannover Re’s segregated accounts vehicle, Kaith Re Ltd., but some have now been allowed to mature, indicating greater clarity over the covered loss events.

German reinsurance giant Hannover Re has brought the first private catastrophe bonds that we’ve learned of in 2023, with three Seaside Re cat bond lites totalling $32.5 million of risk capital issued, the latest, use of its Kaith Re transformer vehicle to come to light.

Many of the Seaside Re private catastrophe bond transactions that were issued by German reinsurance firm Hannover Re’s segregated accounts vehicle, Kaith Re Ltd. have seen their maturities extended and the entire Series 2022 group of cat bonds have now been extended for the first time.

The maturity dates have been extended again for some of the Seaside Re private catastrophe bond transactions that were issued by German reinsurance firm Hannover Re’s segregated accounts vehicle, Kaith Re Ltd., while two series of previously extended notes have now been allowed to mature.

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.

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.

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, 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.

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.