Munich Re cedant for $200mn Leo Re vehicle

Munich Re is managing $200mn of funds allocated to the Leo Re
vehicle by Dutch pension fund service provider PGGM, sources told
sister publication Trading Risk.
The Leo Re debt notes were listed on the Bermuda Stock Exchange
at the start of this year, but the entity's distribution
channel was not disclosed.
Munich Re's main sidecar is the $360mn Eden Re II, which
provides third party capital to support its property catastrophe
portfolio.
The reinsurer said when it released its...