Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

20 May 2013

Munich Re closes Queen Street VI at $100mn

10 July 2012

Munich Re has closed its new dual-peril Queen Street cat bond at $100mn with spreads coming in below pricing guidance, Trading Risk understands.

Pricing on the Queen Street VI Re bond finalised on 9 July and the notes will pay a coupon of 1035 basis points above benchmark Treasury Money Market Fund rates, according to sources.

This was slightly lower than the bottom end of forecast pricing, reflecting high investor demand that has been driving down ILS spreads over the...

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