Queen Street IX Re Ltd.

GC Securities, the capital markets and investment banking arm of reinsurance broker Guy Carpenter, cites the ‘tremendous support’ that investors showed for reinsurer Munich Re’s latest catastrophe bond transaction, Queen Street IX Re Limited.

The world’s largest reinsurance firm Munich Re said that its latest catastrophe bond transaction, the $100m Queen Street IX Re Limited, was well received by the insurance-linked securities market.

The world’s biggest reinsurance firm Munich Re has fixed its Queen Street IX Re Limited, catastrophe bond at $100m in size, while the pricing on the deal has settled at the low-end of an already reduced range thanks to investor demand.

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.

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.