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Insurance Linked Securities

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    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 Mexican government / World Bank 04/2024 04/2028 USD 225m Class A (Earthquake)
    Mexican government / World Bank 04/2024 04/2028 USD 70m Class B (Earthquake)
    Mexican government / World Bank 04/2024 04/2028 USD 125m Class C (Atlantic Hurricane)
    Mexican government / World Bank 05/2024 04/2028 USD 175m Class D (Pacific Hurricane)
    For Munich Re* Queen Street 2023 Re dac 05/2023 12/2025 USD 300m US Hurricane
    Eden Re II Ltd. (Series 2024-1) 12/2023 03/2028 USD 150m "various perils"
    Eden Re II Ltd. (Series 2023-1) 12/2022 03/2027 USD 131m "various perils"
    Eden Re II Ltd. (Series 2022-1) 12/2021 03/2026 USD 190m "various perils"
    Eden Re II Ltd. (Series 2021-1) 12/2020 03/2025 USD 235m "various perils"
    * excluding private transactions