Hannover Re has raised $370m in the capital market to obtain underwriting capacity for catastrophe risks.
The transaction, which is the company's highest volume risk securitisation to date, was placed primarily with institutional investors in North America and is initially limited to a term of three years.
Chief executive Wilhelm Zeller said in a statement that
Hannover Re needed that underwriting capacity to participate in the "profitable market opportunities that will open up in the years ahead".
