Hannover Re & Parametrix launch world’s first cloud outage catastrophe bond
Reinsurance News - Apr 15, 2024
Large European reinsurer Hannover Re has, in collaboration with Parametrix, issued the world’s first cloud outage catastrophe bond, a $13.75 million privately placed transaction called Cumulus Re. Issued via Hannover Re’s wholly owned Bermuda domiciled subsidiary, Kaith Re Ltd., the para...
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