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Hannover Re-backed Kaith Re issues $7.47m private LI Re cat bond

The $7.47 million LI Re Series 2026-3 notes are structured via Kaith Re Ltd., a Bermuda transformer vehicle used to collateralize securitized reinsurance or retrocession risk.

Reported · Written up by our desk · Industry & Deals

Hannover Re facilitated a new private catastrophe bond issuance through its Bermuda-domiciled transformer vehicle, Kaith Re Ltd., for a deal tied to the LI Re program.

The issuance totals $7.47 million in LI Re Series 2026-3 notes, which is expected to support a collateralized, transformed and securitized reinsurance or retrocession arrangement.

Artemis reports the Series 2026-3 private cat bond is the third LI Re private catastrophe bond issued by Kaith Re Ltd. so far in 2026, following two smaller $2 million deals launched in April under LI Re (Series 2026-1) and LI Re (Series 2026-2).

The article notes that issuance under the LI Re program was larger in 2025, with Kaith Re Ltd. issuing just under $24.53 million of notes across LI Re (Series 2025-1) in July and LI Re (Series 2025-2) in October. It also says the risks are assumed to be contained in the segregated account tied to LI Re, and the notes are scheduled to mature on July 2026-3, though the maturity date is cut off in the provided text.

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