ミュンヘン再保険、暴風雨リスクに対するカバーを資本市場から調達

Normal view (turn off text only mode)
You are here:

2012.07.19 | ニュース

米ハリケーン・欧州暴風雨リスクに対するカバーを資本市場から調達

ミュンヘン再保険は、米ハリケーンと欧州暴風雨リスクに対する総額1億ドルのカバーを特別目的機能を有する保険会社Queen Street VI Re Limitedを通して資本市場から調達。

取引全体の組成・手配は当社が行った。年限は2015年4月9日で、バミューダで免許登録のあるQueen Street VI Re Limitedが債券を発行。リスク・モデリングはAIR Worldwide社が開発した。債券発行により、当社は35年に1回発生(リターン・ピリオド)する規模の巨大災害による損害に対するカバーを調達。債券は格付け会社スタンダード&プアーズよりシングルB(sf) を獲得、リスク・プレミアムは年率10.35%。

投資家はリスク・プレミアムと、同債券の代金の米国MMF(S&P格付け:トリプルA(m))での運用利回りを受け取る。同ファンドは当社グループの資産運用会社MEAGが組成した。市場損失額に関して、米ハリケーンは郡・種目加重、欧州暴風雨はCRESTAゾーン加重で定量化する。損害に対する支払いは、米ハリケーンはPCS社(Property Claim Services)、欧州暴風雨はチューリッヒ・PERILS AGの指標を基に行われる。Queen Street VI Re Limitedは同債券を、投資ファンドやヘッジファンドを中心に保険会社など幅広い層の投資家に販売した。

「現在の資本市場環境を活用し、発生の可能性が高い災害に対するカバーを獲得。キャットボンドは、当社の引き受けリスク(特にハリケーンなどのピークリスク)を移転するための(通常の再保険に対する)補完的手段として、今後も状況に応じてこれを活用していく。投資家からは、通常の資本市場の動向との相関性が極めて低いキャットボンドによる分散効果に対して、ポジティブな反応が得られている」(取締役のトーマス・ブルンク)


Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re creates value for clients, shareholders and staff alike. In the financial year 2011, the Group – which pursues an integrated business model consisting of insurance and reinsurance – achieved a profit of €0.71bn on premium income of around €50bn. It operates in all lines of insurance, with around 47,000 employees throughout the world. With premium income of around €27bn from reinsurance alone, it is one of the world's leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in the ERGO Insurance Group, one of the major insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2011, ERGO posted premium income of €20bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re's global investments amounting to €202bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.


Disclaimer
This press release is prepared for the purpose of public announcement of the insurance solution provided by Munich Re in connection with the issuance of the bonds referred to herein (the "Bonds") and does not constitute or form part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.

All of the Bonds have been sold and this announcement is a matter of record only. The Bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any state or foreign securities law and the issuer is not and will not be registered under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act").

The Bonds were offered and sold only to investors who are qualified institutional buyers in accordance with Rule 144A under the Securities Act and who, in the case of U.S. persons (as the term is defined in Regulation S under the Securities Act), are also qualified purchasers for purposes of Section 3(c)(7) of the Investment Company Act and may not be re-offered or re-sold except in compliance with all applicable transfer restrictions. Any purported transfer in violation of those restrictions will be null and void. In addition, the Bonds may be held only in certain permitted jurisdictions.

This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.

連絡先

このプレスリリースにつきましてご質問等がございましたら、ミュンヘン再保険会社 Munich Re Japan 広報担当までご連絡ください。
電話:03-5251-6871


Main Navigation
Service Men
Accessibility

Note


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