Swiss Re Insurance-Linked Strategies Inc

Mt. Logan Capital Management, Ltd.

King Max Re II DAC (Series 2026-1)

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King Max Re II DAC (Series 2026-1) – At a glance:

  • Issuer: King Max Re II DAC
  • Cedent / sponsor: VKB Re
  • Placement / structuring agent/s: Aon Securities is sole structuring agent and bookrunner
  • Risk modelling / calculation agents etc: RMS
  • Risks / perils covered: Germany earthquake, flood, hailstorm, windstorm
  • Size: €150m
  • Trigger type: Indemnity
  • Ratings: NR
  • Date of issue: Nov 2026

King Max Re II DAC (Series 2026-1) – Full details:

German domestic market insurance group Versicherungskammer Bayern Versicherungsanstalt des oeffentlichen Rechts’ (VKB) has returned to the catastrophe bond market to sponsor its second transaction.

The company sponsored its debut €175 million King Max Re DAC 2023 cat bond roughly three years ago and the reinsurance protection from that deal expires in early January 2027, hence this new offering under King Max Re II DAC is a renewal of sorts for that capital markets backed catastrophe risk transfer.

Details to follow…

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