It’s no surprise to read that Standard & Poor’s has withdrawn the majority of the ratings it held on Scottish Re’s 2006 Ballantyne Re Plc Regulation XXX type life insurance-linked securities (ILS), as it no longer sees the market interest in maintaining the ratings.
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Aurigen Capital Limited has completed its second embedded value life insurance securitization, in a $175m (CAD $210m) deal issued through Valins I Limited. The firm has also redeemed in full its previous deal, the 2011 issued CAD$120m Vecta I Ltd.
Scottish Re’s 2006 Ballantyne Re Regulation XXX type life insurance securitization transaction will struggle to return much capital to investors following huge mark-to-market losses on the assets in the underlying collateral accounts, according to an update on the deal from rating agency Fitch Ratings.
Scottish Re’s 2006 Ballantyne Re life insurance securitization transaction has been heading for what seems like an inevitable default for some time now. The Regulation XXX type life insurance linked transaction saw huge mark-to-market losses on the assets in the underlying collateral accounts. As a result it experienced regular failures to make interest payments resulting […]
An embedded value life securitization transaction has been launched on behalf of Aurigen Reinsurance who are seeking through this Vecta I Ltd. deal to monetise the cash flows associated with life insurance and mortality business it has reinsured. Embedded value life securitization transactions enable sponsors to realise the present value of future cash flows by […]
Swiss based boutique finance and investment house Secquaero Advisors Ltd. has won an award for their successful securitization of a €60m closed block of existing in-force unit-linked life insurance policies. The SQ ReVita transaction was completed in June this year and was seen as an innovative and secure transaction by investors and so received a […]
AEGON, the huge Dutch life insurance group, has announced the completion of a life insurance securitization transaction designed to free up capital to the group. The transaction will free up approximately $650m of additional regulatory capital to its U.S. operations. The transaction itself is worth $900m (the first portion of which was realised in 2008) […]
Hannover Life Reassurance Company of America (Hannover Life Re or Hannover Re US) has announced the promotion of Dale Mensik to Senior Vice President, Financial Solutions, a role in which he will lead certain of the firm’s life reinsurance capital markets activities.
The first tranche of the novel Salam III Limited securitization of in-force life insurance policies has now been issued. The unique deal, transacted as an Islamic bond, or Sukuk, is the first time we know of an insurance-linked securitization (ILS) of takaful (Sharia’a-compliant) insurance policies taking place.
ATLANTICLUX, the Luxembourg based life insurer which is an an affiliate of the Munich based FWU Group, has brought to market another novel securitization of in-force life insurance policies and this time it’s wrapping the life insurance-linked securities within an Islamic bond, or Sukuk, called Salam III Limited.