Munich Re has launched a new dual-peril Queen Street Re cat bond in the first ILS issuance since the hurricane season opened.
Queen St VI Re will cover US and European wind risk on a per-event basis using weighted industry loss triggers.
Florida exposure makes up about half of the US portion of risk in the deal, while the UK is the largest contributor to its European risk exposure, followed by Germany.
The deal will run until April 2015, covering...
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