Hannover Re is now seeking an upsized $200 million in broad retrocession covering worldwide peak perils on an annual aggregate basis, from its new 3264 Re Ltd. (Series 2025-1) cat bond transaction that is in the market, Artemis has learned.
The reinsurer returned to the cat bond market earlier this month, with an initial target to secure $175 million in aggregate retrocessional reinsurance from this fourth in the 3264 Re series of deals.
This new 3264 Re 2025-1 catastrophe bond seeks broad multi-year annual aggregate retrocessional reinsurance protection for Hannover Re from one tranche of notes, while a second tranche is focused on North American earthquake risks only.
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