Your search for “life securitization”

L1 – Securitization of Life Reinsurance Assets – 100m DEM (US$54m). This first-of-a-kind securitization transaction transfers the financing burden, accounting impact (P&L and surplus) and reinsurance risk associated with new life reinsurance business in certain designated markets for the 1998, 1999 and 2000 years of account. Under this transaction (‘L1’), Hannover Re obtained a 75% […]

L2 – Securitization of Life Reinsurance Assets. Hannover Re concluded a further financing transaction (‘L2’) with a volume of EURO 130 million (US$133m). In contrast to its ‘L1’ predecessor, this facility was geared to so called block assumptions transactions. In this case, the reinsurer does not only finance the acquisition costs from new business, but […]

L3 – Securitization of Life Reinsurance Assets. Hannover Re completed a third transaction for the transfer of acquisition costs in life and health reinsurance to the capital markets. Designated ‘L3’, the facility has been concluded for a period of three years and comprises a financing volume of EUR 50 million (US$43m). It encompasses all classes […]

L4 – Securitization of Life Reinsurance Assets. Under the L4 transaction, Hannover Re securitized the cash flows arising from its unit-linked life and annuity reinsurance business in Germany and Austria, which primarily originated from its sister company Aspecta Leben. The transaction provides up to EURO 200 million (US$175m) in financing support for three underwriting years […]

This C$120m (US$111 million) deal see’s Aurigen Reinsurance Ltd. (ARL) entering into a retrocession agreement with Vecta I Ltd., a newly formed Bermuda domiciled SPV, after which ARL will retrocede the life business to Vecta for which Vecta pays a ceding commission. ARL has also entered into a reinsurance agreement with Aurigen Reinsurance Company and […]

This is the fourth in Aetna’s series of Vitality Re, medical benefit linked securitization deals. It again sees them looking for additional reinsurance cover to protect themsevles against a rise in medical benefit claims rates. Vitality Re IV Ltd. is a Cayman Islands domiciled exempted company licensed as a Class C insurer in the Cayman […]

This deal, which launched in November proposing the sale of a $200m tranche of notes but grew in size due to demand from investors, allows RGA to realise some of the profits which were embedded in a defined portfolio of life reinsurance business. The transaction covers a closed block of policies assumed by RGA Reinsurance […]

Valins I Limited, a Bermuda domiciled special purpose vehicle, has issued and privately placed $175m (CAD $210m) of embedded value life insurance linked notes, in the second life insurance securitization featuring Canadian risk. Part of the proceeds have been used to redeem the Vecta I Ltd. notes, perhaps due to the new transaction providing a […]

This is USAA’s 28th securitization of insurance risk as a catastrophe bond, continuing its prolific use of the capital markets as a source of reinsurance capacity. The firm currently has more than $1.65 billion of cat bonds in-force providing it with fully collateralized reinsurance coverage and is now seeking to add a fresh $280 million […]

This is USAA’s 29th securitization of insurance risk as a catastrophe bond, extending its use of the capital markets as a source of reinsurance capacity. This transaction sees USAA with a new special purpose insurer, Residential Reinsurance 2017 Limited, which will seek to issue $300 million at least of Series 2017-1 notes to collateralize a […]

Typically used in a similar way as other forms of ILS, like longevity, mortality and catastrophe bonds, life ILS is often used as a means to raise risk capital, and in principle they all hold the potential to achieve the same objectives. That being said, the majority of life securitizations to date have been for […]

Catastrophe Insurance Risks: Status of Efforts to Securitize Natural Catastrophe and Terrorism Risk United States General Accounting Office Sep 2003 Catastrophe Securitization A Multi-Factor Event Study on the Corporate Demand for Risk Management Terry College of Business, University of Georgia Why Securitization Matters Sponsor’s Features, Reactions Nov 1999 Securitization of Catastrophe Risk: New developments in […]

Company profile: The fund manager for the – Alpina CAT Bond Funds is Solidum Partners. Note: The Alpina CAT Bond Funds used to be the Falcon CAT Bond Funds. Alpina Capital acquired Falcon Fund Management in late 2020 and launched Alpina Fund Management in Luxembourg. Institutional sales for the funds is handled by Alpina Capital […]

Artemis’ own catastrophe bond market reports can be found here, a quarterly publication going back to 2014. Every copy is available to download. Insurance-linked securities, Year-End 2015 Update Aon Benfield ILS Market Update Q4 2015, ILS outlook upbeat amid a persistent soft market Willis Capital Markets & Advisory 2015 Q4 ILS Market Update Lane Financial […]

As a result, longevity risk is often transferred between parties, either as insurance, reinsurance, a swap or other capital market hedge. Often the longevity risk is transferred to global reinsurers large enough to absorb the risk, using it as an offsetting hedge for their mortality risk portfolios, but in some cases the risk is transferred […]

Alternative risk transfer became popular during the 1990’s when insurance capacity issues drove insures and reinsurers to seek new ways to pass on their risks to a third party. The main areas of alternative risk transfer include risk securitization through catastrophe bonds, insurance-linked securities and reinsurance sidecars, trading of risk through industry loss warranties and […]

ILS & Catastrophe Bond Market Reports Artemis catastrophe bond & insurance-linked securities (ILS) market reports This is Artemis’ own quarterly catastrophe bond and ILS market report, providing a look at the new risk capital issued and the composition of the cat bond and ILS transactions completed each quarter.  Catastrophe Bond & Insurance-Linked Securities (ILS) Topics […]