Large European reinsurer Hannover Re has now upsized its target for its latest catastrophe bond, increasing it to now seek $150 million in retrocession covering US and North American peak perils from the 3264 Re Ltd. (Series 2025-2) issuance, Artemis has learned.
Hannover Re returned to the catastrophe bond market at the beginning of the month, initially looking to secure $100 million or more in US and North American peak peril retrocession on an industry-loss trigger basis from this 3264 Re 2025-2 deal.
In our first update on this deal, we reported that the price guidance for this issuance had been lowered as Hannover Re targeted strong price execution for its latest cat bond deal.
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