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Insurance Linked Securities

For many years we have used a wide range of financial market instruments such as Insurance Linked Securities and swaps to transfer risk to the capital markets. In view of the volatility of the available retrocession and reinsurance capacity and of the pricing cycle, we regard capital market solutions as viable options for covering insurance risks. In this business segment we arrange transactions on behalf of clients, actively invest in Insurance Linked Securities and sponsor our own securitizations.

The following table provides an overview of outstanding Insurance Linked Securities that Munich Re has arranged on behalf of clients/ issued for our own book.

  Transaction Issuance Date Maturity Date Volume Perils covered
For clients Atmos Re DAC 02/2019 02/2022 EUR 45m Atmospheric perils, flood, snow pressure
Vitality Re X Limited 01/2019 01/2023 USD 200m US health risks
Vitality Re IX Limited 01/2018 01/2022 USD 200m US health risks
Fonden 08/2017 07/2020 Class A – USD 150m Class A – Mexico Earthquake
08/2017 12/2019 Class B – USD 100m Class B – Atlantic Hurricane
08/2017 12/2019 Class C – USD 110m Class C – Pacific Hurricane
Pandemic Emergency Financing Facility 07/2017 07/2020 Class A – USD 225m Class A – Pandemic influenza, Coronavirus
Class B – USD 95m Class B – Filovirus, Coronavirus, Lassa Fever, Rift Valley Fever, and Crimean Congo Hemorrhagic Fever
Lion II Re DAC 06/2017 07/2021 €  200m Europe Windstorm, Italy Earthquake, Europe Flood
Vitality Re VIII Limited 01/2017 01/2021 USD 200m US health risks
Vitality Re VII Limited 01/2016 01/2020 USD 200m US health risks
For Munich Re* Eden Re II Ltd. (Series 2019-1) 12/2018 03/2023 USD 300m "various perils"
Eden Re II Ltd. (Series 2018-1) 12/2017 03/2022 USD 300m "various perils"
Queen Street XII Re DAC 05/2016 04/2020 USD 190m Hurricane US & Windstorm Europe

* excluding private transactions

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This publication is available exclusively to Munich Re clients. Please contact your Client Manager.