Eden Re I Ltd. (Series 2015-1)

The Artemis Collateralized Reinsurance Sidecar Directory provides information on fully-collateralized reinsurance sidecar vehicles established to enable third-party investors to share in the returns of insurance or reinsurance business.

Unsure what a reinsurance sidecar is? Read our explanation here: What is a reinsurance sidecar?

Eden Re I Ltd. (Series 2015-1) sidecar snapshot

  • Reinsurance sidecar: Eden Re I Ltd. (Series 2015-1)
  • Sponsor: Munich Re
  • Launched: January 2015
  • Latest size: $75m (as at January 2015)

Eden Re I Ltd. (Series 2015-1) sidecar details

One of the world’s leading reinsurers, Munich Re, continued to expand its use of alternative capital and leverage its relationships with capital market investors with the launch of Eden Re I Ltd. (Series 2015-1) in January 2015. A $75m fully-collateralized reinsurance sidecar facility listed as a Bermuda special purpose insurance vehicle, on the Bermuda Stock Exchange (BSX). The $75m of Segregated Account Participating Notes have a due date of 19th April, 2018.

Following the success of its Eden Re sidecar issuances, Munich Re has ‘hailed’ the synergies it’s helped create between large institutional investors and its core natural catastrophe reinsurance business. Commenting on the sidecar in early 2015, Munich Re Board Member, Thomas Blunck said; “Both our clients and our capital markets partners are benefiting from our Nat Cat know-how and our competence to write and manage such peak risks.”

A matter of weeks prior to the launch of Eden Re I Ltd. (Series 2015-1) Munich Re announced the launch of Eden Re II Ltd., a $290m fully-collateralized reinsurance sidecar vehicle enabling third-party investors to access some of its reinsurance underwriting business.

Munich Re’s first sidecar vehicle issuance under the Eden Re naming convention, Eden Re Ltd., launched on January 3rd 2014, with a total capital size of $63m.

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