Hannover Re has announced a securitization deal worth about $370 million of capital risk placed with institutional investors in North America and limited to a term of three years.
Hannover CEO Wilhelm Zeller said the transaction is aimed at precluding the effects of not only price contraction, but price inflation on the retrocession market to exploit rising demand for property and marine reinsurance coverage in the aftermath of last year's catastrophes.
The portfolio assembled for the so-called "K-5″ securitization consists of nonproportional treaties for property catastrophe, aviation and marine reinsurance.
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