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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 Azzurro Re II DAC 07/2020 01/2024 EUR 100m Earthquake Italy
    Vitality Re XI Limited 01/2020 01/2024 USD 200m US health risks
    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"
    Eden Re II Ltd. (Series 2020-1) 12/2019 03/2024 USD 285m "various perils"
    * excluding private transactions