Munich Re
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The carrier said its P&C reinsurance major-loss expenditure for Q4 was EUR886mn, almost double that of the prior-year quarter.
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People moves in the industry in the past month.
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Newer vehicles found it harder to get going as sidecar sponsors struggled to hit their fundraising targets in the January renewals. -
A new $213mn issuance has been added to an $87mn Eden Re tranche done in December.
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The bond has been launched with the same initial price guidance as last year’s issuance.
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The Florida-based carrier renewed aggregate reinsurance covering non-hurricane losses, including a $30mn single-provider deal and a larger $85mn programme.
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The Munich Re vehicle funded by Dutch pension fund service provider PGGM has reached $400mn for 2019.
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Daniel Ohn has joined the reinsurer as an ILS structurer in New York.
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The ILS investor says 7 percent annual returns have made the asset class an attractive opportunity for the fund.
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Eden Re provided $300mn of retro support for Munich Re in 2018 across a couple of debt issuances.
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The outbreak is eligible for cover under a 2018 pandemic cat bond sponsored by the World Bank.
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There have been 452 confirmed cases in the latest Ebola outbreak.
