Queen Street X Re Limited

Global reinsurance giant Munich Re has announced the completion of its latest catastrophe bond transaction, Queen Street X Re Limited (2015), which remained at its $100m launch size and was well received by investors, the reinsurer said.

Global reinsurance firm Munich Re looks set to be successful with its latest catastrophe bond issue, as the still $100m Queen Street X Re Limited (2015) cat bond has been priced at the mid-point of initial guidance.

The world’s largest reinsurance firm Munich Re is returning to the catastrophe bond market, trying again to issue a $100m Queen Street X Re Limited (2015) catastrophe bond to provide it with retrocessional protection for U.S. hurricane and Australian cyclone risks.

The world’s largest reinsurance company Munich Re has withdrawn the issuance of its latest catastrophe bond, Queen Street X Re Limited, as investor appetite was likely not strong enough to get the transaction completed at the size and pricing desired.

The latest catastrophe bond from the world’s largest reinsurance company Munich Re, Queen Street X Re Limited, is set to price at the top end of guidance, another indication that insurance-linked securities (ILS) investors have established a floor for cat bond pricing.

The world’s largest reinsurance company Munich Re is back with its tenth catastrophe bond under the Queen Street naming convention, Queen Street X Re Limited, its third cat bond to include Australia cyclone risk alongside U.S. hurricanes.