Hannover Re issues $7.47M cat bond, its third LI Re deal of 2026
What's the deal? Hannover ReDealroom has a profile for this one. Try Dealroom → has facilitated a new $7.47 million private catastrophe bond, issued through its Bermuda-based transformer vehicle Kaith Re Ltd. under the LI Re Series 2026-3 offering. The single series of notes was privately placed with qualified investors and is now listed on the Bermuda Stock ExchangeDealroom has a profile for this one. Try Dealroom → as insurance-related securities.
The details: The notes are scheduled to mature on July 15, 2027. The deal is expected to support a collateralised, transformed, and securitised reinsurance or retrocession arrangement, with the risks held in Kaith Re's LI Re segregated account.
Why now? This is the third LI Re private cat bond of 2026, following two $2 million deals in April. Activity under the program is picking up: before 2025, Kaith Re issued just one LI Re deal per year.
What's the endgame? Hannover Re acts as a facilitator in the insurance-linked securities (ILS) market, using private cat bonds — also called cat bond lites — to connect clients with capital markets capacity and give investors access to catastrophe reinsurance risk. In 2026, the firm has now reported $95 million of Seaside Re issuance, a $35 million Cumulus Re cyber cat bond, and $11.47 million under LI Re.
The signal: Private cat bond issuance has reached just over $308 million so far in 2026, against $626.51 million tracked for all of 2025. The record year remains 2017, at just over $1.12 billion.
Read more: artemis.bm
Image credit: Hannover Re
