Hannover Re K sidecar cut by 26%
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Hannover Re K sidecar cut by 26%

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Hannover Re will have 26% less retro cover from its K quota share sidecar for 2022, as its excess-of-loss retro programme shrank by a similar margin.

This year it will have $450mn of cover from the K-Cession deal, versus $610mn in 2011.

Its whole account XoL fell from EUR337mn ($456mn) to EUR265mn and the aggregate XoL almost halved from EUR225mn to EUR113mn.

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