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Bermuda: Munich Re launches $63 million Eden Re sidecar

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Munich Reinsurance Co. has launched a $63 million fully-collateralized reinsurance sidecar Eden Re Ltd., Artemis.bm reported.

The Bermuda-domiciled special purpose insurer vehicle listed a single $63 million Series 2014-1 tranche of Segregated Account Participating Notes on the Bermuda Stock Exchange.

The sidecar provides Munich Re with collateralized capacity for its property catastrophe business, reports Artemis.bm.

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