FANews
FANews
RELATED CATEGORIES

Hannover Re completes new ILS transactions

03 June 2015Hannover Re

Hannover Re has completed two new transactions as part of its insurance-linked securities (ILS) activities. The company has transferred storm risks for the US-based Massachusetts Property Insurance Underwriting Association (MPIUA) and Texas Windstorm Insurance Association (TWIA) to the capital markets.

The amount of capital made available by institutional investors is USD 300 million in the case of MPIUA and USD 700 million for TWIA; this is the largest catastrophe bond issued to date in 2015. GC Securities, a division of MMC Securities Corp., served as sole structurer and bookrunner.

"We are delighted that in coordination with our partners we have again successfully transferred insurance risks to the capital markets; this underscores Hannover Re's long-standing expertise in the field of alternative risk transfer. In so doing, we are able to support our clients while at the same time generating low-risk and stable margins for our company", Chief Executive Officer Ulrich Wallin noted. Hannover Re had already transferred storm risks to the capital markets for TWIA in the previous year.

Since the placement of the world's first risk securitisation by Hannover Re in 1994 the company has realised numerous innovative transactions in both property & casualty and life & health reinsurance.

Quick Polls

QUESTION

With the allegations against CMS’s investigations head, Stephen Mmatli, do you believe this will taint the CMS’s role?

ANSWER

Yes
No
Only time will tell
AE fanews magazine
FAnews February 2019Get the latest issue of FAnews

This month's headlines

CPD versus Product Training: What's the difference?
Fit & Proper: the early warning requirement
Insurers take on PPRs
Withdrawal strategy... the pensioner's puzzel
Growing up with the right advice
Picking the brains of Millenials
Subscribe now