Your search for “life securitization”

You’d be forgiven for thinking that the insurance-linked securities market was only about catastrophe risk securitization if you looked at our Deal Directory and in recent months it has been. However, according to panelists at ratings agency Standard & Poor’s recent Insurance 2012 Conference there’s life in life insurance-linked securitization yet, particularly in the securitization […]

Hartford Financial Services Group Inc. are reportedly looking at options for ways to best reduce and isolate the risks from its annuities and life insurance business from the rest of its operations, according to this article on Bloomberg. Investment losses in recent years from their life insurance unit have caused issues at the group with […]

Global reinsurer Swiss Re see the recent successful completion of the Vecta I Ltd. embedded value life insurance securitization as a positive sign for the market. In this article from A.M. Best, Swiss Re’s Head of Life & Health Alison Martin says that the completion of Vecta I as the first securitization of embedded value […]

Some further details are gradually emerging on the Vecta I Ltd. embedded value life insurance securitization thanks to press releases from some of the transactions participants. The first embedded value deal to come to market since 2007, Vecta I Ltd. is also the first insurance-linked securitization of Canadian life insurance embedded value.

The first 144A embedded value life insurance securitization deal to be issued since 2007 (see graph below) has now completed. The Vecta I Ltd. transaction, which enables Aurigen Reinsurance to monetise the cash flows associated with life insurance and mortality business it has reinsured, was rated today by Standard & Poor’s as a C$120m tranche of […]

Scottish Re’s $2.1 billion 2006 life insurance securitization transaction seems headed for an inevitable default according to Fitch Ratings. The Regulation XXX type life insurance linked transaction has been finding it increasingly difficult to pay investors interest payments and now Fitch says that payment of principal is increasingly unlikely as well.

Scottish Re, a Bermuda domiciled life reinsurer currently going through a run-off process, has announced their second quarter 2011 financial results and recorded a loss due to the unwinding of a life insurance securitization transaction. The Orkney 1 life insurance securitization transaction has been unwinding since Scottish Re were placed in run-off and ceased writing […]

Secquaero Advisory Ltd., has announced the successful completion of  a €60m securitization of a closed block of existing in-force unit-linked life insurance policies. The transaction was issued via Secquaero’s Guernsey domiciled entity SQ ReVita. The life insurance securitization was sponsored by ATLANTICLUX Lebensversicherung S.A., Luxembourg, an affiliate of the Munich based FWU Group and syndicated […]

Scottish Re, the Bermuda based run-off life reinsurer, has announced the completion of the unwind of their 2005 Orkney I life insurance securitization transaction. The announcement also signifies the completion of the transfer of the block of business to Hannover Life Reassurance Company of America.

According to the Wall Street Journal, AIG have recently been seeking to sell notes from a new life settlement securitization to investors but have been facing difficulties getting interest from investors who view these types of insurance-linked securitization deals as risky.