Hannover Re is back in the catastrophe bond market with an initial target to secure $100 million or more in retrocession covering US and North American peak perils on an industry-loss basis, from a 3264 Re Ltd. (Series 2025-2) transaction that is now in the market and being offered to investors, Artemis can report.
This will become the fifth catastrophe bond in the 3264 Re series for global reinsurance firm Hannover Re, as the company continues to tap the capital markets for its retrocession needs.
Hannover Re partners with capital market investors for its own retrocessional reinsurance needs and as a facilitator in the insurance-linked securities (ILS) market, with the 3264 Re issuances seemingly an example of protection buying for its own book.
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