Leo Re Ltd

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.

Global reinsurance giant Munich Re is revisiting its relationship with capital market investors in its collateralized reinsurance sidecar vehicle for 2023, with a first tranche of Eden Re II notes issued, albeit at smaller size than previous years.

Netherlands-based pension investor PGGM had increased the size of its insurance-linked securities (ILS) market investments to roughly US $8.5 billion (EUR 8.2bn) as of the middle of the year, with this growth at a time of overall asset devaluation likely the trigger for its more recent downsizing in the asset class.

Netherlands-based pension investor PGGM is set to reduce the overall size of its insurance-linked securities (ILS) market investments, as the groups ILS portfolio has now grown substantially above the target allocation percentage, Artemis has learned.

PGGM, the Dutch pension fund investment manager that continues to be the largest single investor in the insurance-linked securities (ILS) market, increased its ILS portfolio to roughly US $8.2 billion, while adding new mandates with Aeolus, SCOR and a managed account structure named Nightingale Re.

Global reinsurance giant Munich Re has now completed its annual two tranche of note renewal of its Eden Re II Ltd. fully collateralised reinsurance sidecar vehicle for 2022, with the issuance smaller than prior years at $190 million.

Global reinsurance giant Munich Re is close to completing a renewal of its Eden Re II Ltd. fully collateralised reinsurance sidecar vehicle for 2022, with a $42.1 million tranche of Series 2022-1 Class A notes the first to come to light.

PGGM, the Dutch pension fund administrator and investment manager and the largest single source of assets in the insurance-linked securities (ILS) market, has significantly increased its mandated allocation allowances for some of its leading invetsment partners in the ILS and reinsurance sector.

Munich Re has now completed the usual two tranche issuance for the renewal of its fully collateralized reinsurance sidecar vehicle Eden Re II Ltd., with the amount of capital backing the sidecar for 2021 down some 18% at $235 million.