munich re

Reinsurance giant Munich Re has redeemed another tranche of notes from its Eden Re series of collateralized reinsurance sidecar issuances early, which may again be related to the loss activity of 2017’s hurricanes and other catastrophe events.

There are signs that the world’s largest reinsurance firm Munich Re is beginning to refocus and reposition itself, intending to concentrate on its core areas of expertise in risk management, risk transfer and risk bearing, alongside a newer developed focus on technology.

Reinsurance giant Munich Re has sponsored a second issuance for 2018 from its latest collateralized reinsurance sidecar, with a $216.34 million tranche of Series 2018-1 Class B participating notes issued by its Eden Re II Ltd. sidecar vehicle, taking the total size of the 2018 issuance to $300 million.

Munich Re has successfully sponsored and placed an almost $83.7 million tranche of Series 2018-1 participating notes from its Eden Re II Ltd. collateralised reinsurance sidecar vehicle with investors, as it sets up its retrocessional sidecar facility for the coming year.

Global reinsurance giant Munich Re has made a second early redemption of sidecar notes, redeeming the $75.578 million Class A tranche of the Eden Re II Series 2016-1 collateralized sidecar vehicle, which we’re again told is likely due to commutation of underlying retrocession contracts following losses suffered from recent catastrophes.

Reinsurance giant Munich Re has made an early redemption of the two classes of notes from its $290 million Eden Re II Series 2015-1 collateralized sidecar vehicle, which we’re told is likely due to commutation of underlying retrocession contracts following losses from recent catastrophe events.

Global reinsurance firm Munich Re has expanded its third-party capital ILS investor base in its collateralised sidecar and catastrophe bond issues, while also expanding the coverage of its Eden Re II sidecar to include four lines of business.

Munich Re has again secured a total of over $360 million of capital markets capacity using its Eden Re II Ltd. collateralised reinsurance sidecar vehicle, adding a January listing of $258.7 million of Series 2017-1 Class B notes to its December $101.4 million Class A issuance.

Reinsurance giant Munich Re has sponsored and listed another tranche of participating notes from its Eden Re II Ltd. collateralised sidecar vehicle, with $101.4 million of Series 2017-1 Class A notes admitted to the Bermuda Stock Exchange (BSX).

Global reinsurance company Munich Re said today that it has increased its use of the capital markets as a source of efficient capital for risk transfer and retrocession, citing the coverage provided by its Eden Re II sidecar renewal and recent Queen Street cat bond as “valuable”.