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Vitality Re VII ILS helps Aetna reduce required capital & gain reinsurance

Health insurance company Aetna has hailed the completion of its latest ILS transaction, Vitality Re VII Ltd. (Series 2016-1), which it says help it to "reduce its required capital" while gaining a $200m source of collateralized excess of loss reinsurance.The Vitality Re II 2016-1 health insurance loss ratio linked ILS, read the full article →

Consolidated Appropriations Act causes downgrade of Vitality Re V & VI health ILS’

As a result of a piece of health care and health insurance related U.S. legislation named the Consolidated Appropriations Act, 2016 (CAA), signed into law in December, all tranches of Aetna's Vitality Re V Ltd. and Vitality Re VI Ltd. ILS deals have had their ratings downgraded.The Consolidated Appropriations Act, read the full article →

Aetna’s Vitality Re VII medical benefit cat bond prices at top-end

Health insurance firm Aetna's $200m Vitality Re VII Ltd. (Series 2016-1) health insurance medical benefit ratio catastrophe bond deal has now been priced, with the coupon settling at the upper end of the initial guidance range.When this ILS deal launched almost a fortnight ago, it saw Aetna seeking to gain read the full article →

Aetna back with $200m Vitality Re VII health insurance linked ILS

Health insurance firm Aetna is returning to the capital markets in search of another $200 million or more of fully-collateralised reinsurance protection for losses under its health insurance medical benefit ratio, through a Vitality Re VII Ltd. (Series 2016-1) ILS issuance.Aetna has been using the insurance-linked securities (ILS) market as read the full article →

S&P affirms ratings of Vitality Re IV, V & VI health ILS deals

Ratings agency Standard & Poor's has affirmed the ratings of all tranches from three medial benefit ratio or health insurance linked ILS deals sponsored by Aetna. The ratings have been affirmed as S&P said that its rating criteria had previously been misapplied for these deals.The Vitality Re transactions provide insurer read the full article →

Aetna hails efficient, lower-cost capital from launched Vitality Re VI

Health care insurance and benefits firm Aetna has hailed the improved "capital efficiency" and reduction in its "weighted average cost of capital" that it has achieved with the successful completion of its sixth medical benefit claims linked Vitality Re VI Ltd. (Series 2015-1) ILS.Aetna has been visiting the capital markets read the full article →

Aetna’s Vitality Re VI health insurance ILS prices low at $200m

Health insurer Aetna's Vitality Re VI Ltd. (Series 2015-1) ILS has achieved the target size of $200m of protection for the sponsor, while the notes have been priced with one tranche near the lowest end of guidance and the other below it.When the deal launched in early January Aetna was read the full article →

No change to Vitality Re VI price guidance yet

According to sources, the price guidance for the latest health insurance-linked security (ILS) from Aetna, Vitality Re VI Ltd. (Series 2015-1), has not changed as the transaction approaches completion.Investor sources told Artemis that the sixth Vitality Re medical benefit ratio linked ILS deal from Aetna has not seen a tightening read the full article →

S&P explains volatility in Vitality Re ILS, but pandemic remains the tail

Rating agency Standard & Poor's has now published its pre-sale report and preliminary rating for the recently launched $200m Vitality Re VI Ltd. (Series 2015-1) health insurance-linked securities (ILS) deal from life and health insurer Aetna.The Vitality Re VI Series 2015-1 ILS deal was launched to the investor community late read the full article →

Aetna launches new Vitality Re VI health insurance linked ILS

In a repeat of 2014, health insurer Aetna is the first sponsor to launch a new insurance-linked securities deal in 2015, with Vitality Re VI Ltd. (Series 2015-1) seeking at least $200m of protection linked to the insurers medical benefit claims ratio.This is Aetna's sixth Vitality Re medical benefit ratio linked read the full article →