Hannover Re’s vehicle Kaith Re issues $5m LI Re 2024-1 private cat bond

A new $5 million private catastrophe bond issued by German reinsurance company Hannover Re’s Bermuda-domiciled vehicle Kaith Re Ltd. has come to light, with the LI Re (Series 2024-1) deal assumed to be providing privately placed collateralized and securitized catastrophe reinsurance capacity for an unknown sponsor.

Hannover Re has facilitated the transaction, helping the unnamed cedent to access sources of capital markets backed reinsurance capacity.

Using its Bermuda domiciled reinsurance transformer and segregated account vehicle Kaith Re Ltd., which was acting on behalf of its segregated account named LI Re, exactly $5,003,710 million of LI Re 2024-1 private cat bond notes have been issued and placed privately with qualified investors, we have learned.

FULL ORIGINAL PUBLICATION HERE

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