BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
MUNICH, Germany—Munich Reinsurance Co. on Thursday said Bermuda-based special purpose insurer Queen Street VI Re Ltd. has placed a $100 million catastrophe bond on its behalf.
Munich Re structured and arranged the catastrophe bond, which is intended to cover multiple perils including U.S. hurricane and European windstorm. The risk modeling for the bond was developed by Boston-based AIR Worldwide Corp. Collateralized by a U.S. money market fund, the bond has a variable interest rate and matures on April 9, 2015.
Thomas Blunck, a Munich Re board member, said investors including investment funds and hedge funds regard catastrophe bonds as prudent way to hedge against trends in the capital markets.
“Munich Re has taken advantage of the current market environment to acquire coverage against events with a higher probability of occurrence compared with previous transactions,” Mr. Blunck said in a statement. “It remains our strategy of selectively using catastrophe bonds as a supplementary means of transferring peak risks from our own book.”