Queen Street Ltd.

The Artemis Catastrophe Bond and Insurance-linked Securities Deal Directory aims to provide a one-stop resource for information on every cat bond and ILS transaction we hold information on. The content of this Deal Directory is provided as is and there will be some omissions. Help us to keep these cat bond and ILS transaction summaries up to date by contacting us if you see an error or omission that you can correct.

Share

Queen Street Ltd. – At a glance:

  • Issuer: Queen Street Ltd.
  • Cedent / sponsor: Munich Re
  • Placement / structuring agent/s: Munich Re Capital Markets acted as placement agent
  • Risk modelling / calculation agents etc: EQECAT
  • Risks / perils covered: European windstorm
  • Size: $258m
  • Trigger type: Parametric index
  • Ratings: S&P: Class A - 'BB+', Class B - 'B'
  • Date of issue: Mar 2008
  • Artemis.bm news coverage: Articles discussing Queen Street Ltd. from Artemis.bm

Queen Street Ltd. – Full details:

Munich Re has issued a €170m (US$258m) catastrophe bond through a newly established catastrophe bond programme called Queen Street Ltd.

Following on from previous Munich Re transactions, peak windstorm risks are again being placed on the capital market, via a first tranche with a volume of €100m. Standard & Poor’s has given the tranche a B rating.

A second tranche with a volume of €70m securitises windstorm frequency losses (so-called aggregate XL) for the first time. The aggregate XL tranche was given a BB+ rating by Standard & Poor’s.

———————————————————————
Survey imageAlongside our sister publication Reinsurance News, we’ve launched a new survey for the insurance, reinsurance and insurance-linked securities (ILS) industry, asking for your opinion on the market implications of the Covid-19 coronavirus pandemic. Answer our survey here.

Read Covid-19 coronavirus related news & analysis here.

Print Friendly, PDF & Email

« Go back to the Catastrophe Bond Deal Directory

Help us keep this valuable resource up to date. If you have information on a catastrophe bond or insurance-linked security deal we have not covered or can see something that we should change, please contact us to let us know.