Munich Re issues $100 million Queen Street XII Re dac 2016 cat bond
Posted On: May. 4, 2016 12:00 AM CSTMunich Reinsurance Co. is returning to capital markets with the issuance of a $100 million Queen Street XII Re dac 2016 catastrophe bond, reported Artemis.bm.
The new Queen Street XII Re dac cat bond will provide Munich Re with protection against U.S. hurricanes and European windstorm risks on a per-occurrence basis over four seasonal risk periods for each peril.
This is set to be the first cat bond sponsored by the reinsurer which provides European windstorm coverage since 2012's Queen Street VII Re Ltd. transaction that matured recently.