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International

Bermuda: Munich Re launches another reinsurance sidecar

January 05, 2015 Reprints

Munich Reinsurance Co. has added another Bermuda sidecar, as participating notes worth $75 million from special purpose insurer Eden Re I Ltd. were listed, The Royal Gazette reported.

Munich Re recently launched a similar $290 million Eden Re II Ltd. vehicle following the launch of $63 million collateralized reinsurance sidecar Eden Re Ltd. in early 2014.

The participating notes issued by Eden Re I are "exposed to a wide range of perils," said financial website Artemis.bm.

The sidecar launches confirm the reinsurer's intention to make more use of alternative capital, industry experts said.

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Bermuda: Munich Re launches another reinsurance sidecar

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