vitality re iv ltd

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.

U.S. health insurer Aetna, which has a number of catastrophe bond like medical benefit linked securitizations providing it with reinsurance protection, has been hit hard by the influenza outbreak in the United States this winter. The U.S. flu outbreak now appears to have peaked, but the higher than normal incidence of flu this season has […]

The first insurance-linked security transaction to come to market in 2013 has now completed successfully. The Vitality Re IV Ltd. (Series 2013-1) medical benefit linked securitization provides health insurer Aetna with a $150m four-year source of fully-collateralized excess of loss reinsurance coverage on a portion of its group commercial health insurance business.

Once again the demand for a new insurance-linked securities transaction has been significantly above the volume of notes being issued enabling the price to be pushed down to well below the range it was initially marketed at. Aetna’s latest Vitality Re IV Ltd. (Series 2013-1) medical benefit linked securitization saw a great deal of demand […]

The first insurance-linked security transaction to come to market in 2013 is the fourth in life insurer Aetna Life Insurance Company’s series of Vitality Re medical benefit linked securitization deals. Vitality Re IV Ltd. (Series 2013-1) is being marketed and seeks to issue at least $150m of medical benefit claims linked ILS notes to investors […]