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.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
