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$131.25m of Hannover Re’s private cat bonds extended again, $7.5m matured

Some $131.25 million of Hannover Re’s Seaside Re private catastrophe bonds have had their maturity dates extended further into 2024, as uncertainty continues over many of the 2021, 2022 and 2023 vintage deals.

One $7.5 million transaction from 2020 has been allowed to mature in recent days, Artemis understands.

In the last couple of years, we have seen repeated extensions of maturity 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.


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