Seaside Re

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.

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.

Germany headquartered global reinsurance company Hannover Re has brought another private catastrophe bond transaction to market, with a $50 million Seaside Re (Series 2020-51) transaction now completed.

A second private catastrophe bond that was issued by German reinsurance firm Hannover Re’s segregated accounts vehicle Kaith Re Ltd. has had its maturity extended.

Hannover Re has continued its prolific level of private catastrophe bond activity around the reinsurance renewals with the completion and issuance of another two Seaside Re cat bond lites amounting to $40 million in the first week of January.

Yet another private catastrophe bond, or cat bond lite, has been issued through the Kaith Re Ltd. Bermuda domiciled segregated accounts vehicle of German reinsurance firm Hannover Re, a $25 million Seaside Re (Series 2019-42) transaction.

Four more Seaside Re private catastrophe bonds, or cat bond lites, have been issued with the help of global reinsurance firm Hannover Re, resulting in $60 million of new insurance-linked notes brought to investors through the reinsurers’ Kaith Re Ltd. Bermuda domiciled segregated accounts vehicle.

Global reinsurance firm Hannover Re has successfully assisted a client by facilitating the issuance of two new Seaside Re private catastrophe bonds through its Kaith Re Ltd. Bermuda domiciled segregated accounts vehicle, bringing $27 million of U.S. property catastrophe risks to ILS investors.

The $50 million Seaside Re 2017-3 private catastrophe bond transaction, that was issued by German reinsurance firm Hannover Re’s segregated accounts vehicle, Kaith Re Ltd. on behalf of a client, has had its maturity date extended again as uncertainty over the impact of 2017 losses continues.

There has been a further extension to the maturity date for the $50 million Seaside Re 2017-3 transaction, a private catastrophe bond issued by German reinsurance firm Hannover Re’s segregated accounts vehicle, Kaith Re Ltd., suggesting it remains at-risk of losses from the 2017 hurricanes and catastrophes.