Eden Re II Ltd

Speaking this morning during an earnings call, Munich Re’s CFO Andrew Buchanan gave the clearest explanation for why the global reinsurance company has reduced its retrocessional protection considerably, saying the company puts the effort into underwriting so it can keep the risk and has the financial strength to warehouse it.

Munich Re has demonstrated the power of a large diversified reinsurance and insurance group in beating its profit target for 2025, while showing its desire to retain more of the economics of its re/insurance business by slashing its retrocession arrangements and scrapping its collateralized reinsurance sidecar programme.

Munich Re has renewed its retrocessional reinsurance program arrangements to provide $1.55 billion in protection for 2025, utilising both traditional retro and capital markets through its sidecars and catastrophe bonds at a stable level with the prior year.

Having begun its Eden Re II Ltd. collateralized reinsurance sidecar placements with the largest Class A tranche of notes since 2019, global reinsurer Munich Re has now added the usual Class B issuance, but this tranche has been placed at just $85.5 million, which is the smallest size for that layer since right back in […]

Munich Re has been back in the capital markets to secure quota share based retrocession and to start the 2025 sidecar arrangement for the reinsurer, its Eden Re II Ltd. collateralized reinsurance vehicle has issued $64.5 million of Series 2025-1 Class A notes, which is the largest Class A tranche from the structure since 2019, […]

Munich Re’s collateralised reinsurance sidecar structures grew to $650 million in 2024, as the company elevated its use of retrocession, aligned with its growth in natural catastrophe exposure from its underwriting.

Munich Re has now completed the placement of the second listed tranche of its Eden Re II Ltd. collateralized reinsurance sidecar for 2024, which lifts the reinsurers capital market investor-backed retrocessional protection from the structure to $150 million for this year.

Global reinsurance giant Munich Re has returned to the capital markets to refresh its retrocessional protection from the Eden Re II Ltd. collateralized reinsurance sidecar for 2024, with the first tranche of notes to come to light being $28.5 million of Series 2024-1 Class A notes.

The retrocession program of global reinsurance giant Munich Re has shrunk slightly for 2023 as the company navigated the challenging market environment, while still securing $513 million of collateralised capacity for its quota share sidecar vehicles.

Global reinsurer Munich Re has now added to its collateralized reinsurance sidecar arrangements for 2023, with a second tranche of notes now issued by its Eden Re II Ltd. vehicle, taking the total issued so far around this renewal to $131.1 million.