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Hannover Re vehicle Seaside Re issued $32.5m of private catastrophe bonds

January 12, 2023

German reinsurance giant Hannover Re has brought the first private catastrophe bonds that we’ve learned of in 2023, with three Seaside Re cat bond lites totalling $32.5 million of risk capital issued, the latest, use of its Kaith Re transformer vehicle to come to light.

These are the first three private catastrophe bonds we’ve listed in our Deal Directory for 2023. Last year, Artemis recorded $738 million of private catastrophe bond issuance.

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