Global reinsurer Hannover Re is back in the catastrophe bond market and looking to secure additional North American peak peril retrocessional reinsurance, with a $125 million initial target for a new 3264 Re Ltd. (Series 2026-1) issuance, Artemis has learned.
This will become the seventh sponsorship of a 3264 Re Ltd. retrocession catastrophe bond from the global reinsurance company.
Last year, Hannover Re tapped the cat bond market three times for nat cat protection, $200 million of worldwide peak peril retro through the 3264 Re 2025-1 cat bond, then $150 million of US and Canadian cover in May through the 3264 Re 2025-2 offering and finally another $250 million of North American peak peril retrocession through a 3264 Re Ltd. (Series 2025-3) deal in December.
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