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

Millennials make up 30% of the South African job market; these are your clients and future clients. Do you engage with them?

ANSWER

No, not my target audience
Yes, the same as all my other clients
Yes, via social media
Some engagement but by far the most difficult generation to engage with
AE fanews magazine
FAnews August 2018 EditionGet the latest issue of FAnews

This month's headlines

The value of being an FPI Member
Blockchain… the compliance silver bullet?
What constitutes fair treatment?
It will never happen to me
A new era of value-added services
Expert advice leads to proper protection
Subscribe now