munich re

Market sources said today that the latest catastrophe bond from reinsurance firm Munich Re, Queen Street IX Re Limited, will target up to $100m of retrocessional cover for the reinsurer. Pricing looks to be keen, as the guidance range has been lowered.

Two Queen Street catastrophe bond transactions, sponsored by reinsurance firm Munich Re, have been downgraded by S&P over a heightened risk that investors will not receive back 100% of the outstanding principal amount at maturity.

The world’s biggest reinsurance firm Munich Re is sponsoring Queen Street IX Re Limited, the second catastrophe bond the reinsurer has pitched to capital market investors which includes the diversifying peril of Australian cyclone risk.

The world’s largest reinsurer Munich Re has launched a fully-collateralized reinsurance sidecar, Artemis has learned. The sidecar, named Eden Re Ltd., is $63m in capacity and provides Munich Re with collateralized capacity to support its property catastrophe business.

Another of reinsurer Munich Re’s catastrophe bond transactions has been adversely affected by the uncertainty over the U.S. debt ceiling. Queen Street II Capital Ltd. has suffered a loss of principal in the collateral account due to a decline in its per-unit mark-to-market value.

Anyone who thought that catastrophe bonds were immune from the financial market uncertainty surrounding the U.S. debt ceiling has been proven wrong as Munich Re’s Queen Street III Capital Ltd. cat bond is placed on a negative credit watch due to collateral issues triggered by the debt ceiling issue.

Interesting acquisition news today as the world’s largest reinsurance firm Munich Re announced it has reached an agreement with Bermudian reinsurer RennaissanceRe to acquire RenRe’s weather and weather-related energy risk management unit, RenRe Energy Advisors Ltd.

Rating agency Standard & Poor’s has lifted the rating on one of reinsurer Munich Re’s catastrophe bonds after the transaction went through its annual reset. The Queen Street V Re Ltd. catastrophe bond was reset at the end of June and based on changes to payout factors due to a shift in Munich Re’s European […]

The world’s largest reinsurance company Munich Re has issued a statement regarding the successful completion of its latest catastrophe bond transaction, Queen Street VIII Re Limited. The cat bond is Munich Re’s seventh in the Queen Street series since 2011 and eighth Queen Street cat bond in total, the first was back in 2008.

The latest catastrophe bond transaction sponsored by the world’s largest reinsurance company Munich Re has had its price guidance lowered while the cat bond is marketed. Queen Street VIII Re Limited is Munich Re’s eighth cat bond to use Queen Street branding and is the first to feature Australian cyclone risk as one of the […]