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Hannover Re plans $200m Acorn Re parametric US earthquake cat bond
The seventh Acorn Re issuance, Series 2026-1, is being marketed by Hannover Re and structured with Oak Tree Assurance Ltd as the named ceding insurer.
Hannover Re is bringing a seventh parametric US earthquake catastrophe bond issuance in its annual Acorn Re series to market, with an initial target of $200 million for Acorn Re Ltd, Series 2026-1, according to Artemis.
Artemis reports the bonds are being issued by Acorn Re as a special purpose insurer, with Hannover Re acting as the ceding reinsurance company that provides protection to Oak Tree Assurance Ltd, and also sourcing additional protection tied to other reinsurance deals in the same risk area.
Artemis adds that the Acorn Re parametric earthquake cat bonds have been brought to market four years in a row.
Oak Tree Assurance is described by Artemis as the Vermont-based workers compensation captive insurer of the Kaiser Permanente group of health plan companies, and it has been a beneficiary of all seven Acorn Re cat bond protections.