As new insurance-linked securities (ILS) come on line, others are maturing.

German giant Munich Re has added to the billions of dollars worth of ILS based and listed in Bermuda by launching a $63 million sidecar named Eden Re Ltd, according to the Artemis.bm website.

A Bermuda-domiciled special purpose insurer, Eden Re will provide Munich Re with collateralised capacity to support its property-catastrophe business through a single tranche of notes listed on the Bermuda Stock Exchange (BSX).

Yesterday, the BSX announced that ILS notes with a combined value of $660 million listed under the names of Lodestone Re Ltd and Montana Re Ltd had matured and would be delisted from the BSX immediately.

In each case, the notes had provided property-catastrophe reinsurance coverage for their sponsors over the past three years. The Lodestone Re vehicle provided capacity for AIG, while Montana Re was set up for Flagstone Re, which was acquired by fellow Bermuda reinsurer Validus Holdings in late 2012.