Covéa Group and Hannover Re’s first catastrophe bond to be issued from Singapore covering European natural perils

Acted for the Covéa Group and Hannover Re as Singapore deal counsel in the first catastrophe bond to be issued from Singapore covering European windstorm, hailstorm and other natural perils in France, Andorra and Monaco over two tranches of 2021-1 series of notes under a transformer structure with a newly licensed Singapore special purposes reinsurance vehicle, Hexagon III RE Pte Ltd, featuring an indemnity trigger for a four-year reinsurance protection until end 2025. Partners Simon Goh, Lee Xin Mei and Cheryl Tan led the case.