LI Re

A new $3.75m private catastrophe bond (or cat bond lite) or insurance-linked security (ILS) transaction, LI Re (Series 2016-1), has been issued through German reinsurance firm Hannover Re’s segregated accounts vehicle, Kaith Re Ltd.

Two of the LI Re private catastrophe bond deals, issued through reinsurance firm Hannover Re’s segregated accounts vehicle Kaith Re Ltd., have had their maturity dates extended, possibly signalling the potential for losses.

Hannover Re has completed the issuance of another LI Re private catastrophe bond (or cat bond lite), a $3.75m LI Re (Series 2015-1), using its Kaith Re Ltd. segregated accounts vehicle, as the reinsurer facilitates another transaction for an unknown sponsor.

German reinsurance firm Hannover Re has facilitated another private catastrophe bond or ILS transaction, LI Re (Series 2014-2), as the second private bond transformation and issuance under the LI Re segregated account of Kaith Re Ltd.

The recent $10.37m LI Re (Series 2014-1) securitization of a segregated cell of reinsurance company Hannover Re’s Bermuda segregated accounts insurer Kaith Re Ltd., was a property catastrophe insurance-linked security (or catastrophe bond) it transpires.

German reinsurance firm Hannover Re has used its Bermuda domiciled segregated accounts company Kaith Re Ltd., which acts as a type of collateralized quota share sidecar for the reinsurer, to issue a new $10.37m securitization named LI Re (Series 2014-1).