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Hannover Re Capital Partners expands non-proportional ILS business in 2026
Hannover Re said it transferred $2.3 billion of catastrophe bond volume to the capital market in 2026, with eight transactions finalized so far.
Hannover Re Executive Board member Silke Sehm said the reinsurer’s ILS management platform, Hannover Re Capital Partners, successfully wrote additional non-proportional catastrophe business in 2026 under its first third-party capital mandate.
At the same time, Hannover Re Capital Partners began writing business at the January 1, 2026 reinsurance renewals, and Sehm described the unit as positioned to grow in a segment she said offers attractive growth prospects.
Hannover Re said its ILS platform remains relatively stable because structured and insurance-linked securities generate substantial group profit while growth requires relatively little, or in some cases very little, capital. The company also said it transferred catastrophe bond volume for clients, totaling $3.4 billion in 2025 up to now, and $2.3 billion in 2026 with eight transactions finalized.
The reinsurer added it expanded its range of ILS solutions by setting up an underwriting agency in Bermuda, and described collateral fronting for ILS investors as stable at a very high level. Hannover Re said it applies the same modeling approach as it manages the underwriting activities through the Bermuda entity.