New cat bond offer from Hannover Re
Hannover Re is marketing a €75 million ($132 million) catastrophe bond to cover against extreme losses from European windstorms.
A Hannover Re spokesman told insuranceNEWS.com.au the reinsurer intends to renew its cat bond Eurus, issued in 2006, but says she cannot give any further details until the deal is closed.
As with the first Eurus transaction, Eurus II is expected to carry a “parametric trigger” based on wind speeds, which means it is not tied to the reinsurer’s actual losses.
The bond is expected to close at the end of the month.
A Hannover Re spokesman told insuranceNEWS.com.au the reinsurer intends to renew its cat bond Eurus, issued in 2006, but says she cannot give any further details until the deal is closed.
As with the first Eurus transaction, Eurus II is expected to carry a “parametric trigger” based on wind speeds, which means it is not tied to the reinsurer’s actual losses.
The bond is expected to close at the end of the month.