Queen Street III Capital Ltd.

Munich Re’s Queen Street III Capital Ltd. catastrophe bond which matured last week saw a shortfall in the amount of principal repaid to investors, as the cat bonds exposure to last years U.S. debt ceiling financial issue shrank the capital returned to investors.

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.

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.

As promised on Monday when they suspended its rating, Standard & Poor’s have reinstated the rating on the Queen Street III Capital Ltd. catastrophe bond which provides Munich Re with protection amounting to $150m of their European windstorm risks.

Standard & Poor’s have published an announcement stating that they have suspended the rating on the recent Queen Street III Capital Ltd. catastrophe bond which provides Munich Re with protection amounting to $150m of their European windstorm risks. The reason for the suspension is the same as the reason that another recent cat bond, Pylon […]

Further details have emerged on the completion of Munich Re’s latest catastrophe bond transaction issued through their Queen Street III Capital Ltd. special purpose vehicle. The deal completed yesterday, and as we wrote at the time managed to triple the amount of protection originally sought by closing at an upsized $150m.

Munich Re’s latest catastrophe bond, issued by their newly domiciled in Ireland SPV Queen Street III Capital Ltd., began marketing as a $50m issuance when we wrote about it on the 15th July. Thanks to significant investor demand for a European windstorm cat bond, which offered investors an opportunity for portfolio diversification, the deal finally […]

As we reported two days ago, Munich Re are returning to the catastrophe bond market with their latest Queen Street transaction, to secure themselves additional European windstorm cover. The cat bond will be issued by their Queen Street III Capital Ltd. special purpose vehicle, which was recently incorporated in Dublin, Ireland. The transaction is now […]

We’ve been hearing rumours in the market about potential catastrophe bond deals which are getting ready to be marketed to investors with sources insisting that at least one new cat bond will issue within the next month. Some of our sources have told us to expect a European windstorm bond as one of the issues. […]