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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 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
Bosphorus 2 Re Ltd. 08/2015 08/2018 USD 100m Turkey Earthquake
Azzurro Re I DAC 06/2015 01/2019 €  200m Italy Earthquake
World Bank CCRIF 06/2014 06/2017 USD 30m Caribbean Wind & Earthquake
Lion I Re DAC 04/2014 04/2017 € 190m European Windstorm
For Munich Re* Eden Re II Ltd. (Series 2017-1) 12/2016 03/2021 USD 360m "various perils"
Queen Street XII Re DAC 05/2016 04/2020 USD 190m Hurricane US & Windstorm Europe
Queen Street XI Re DAC  12/2015 06/2019 USD 100m Hurricane US & Cyclone Australia
Queen Street X Re DAC  03/2015 06/2018 USD 100m Hurricane US & Cyclone Australia
Queen Street IX Re DAC  02/2014 06/2017 USD 100m Hurricane US & Cyclone Australia

* excluding private transactions

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