Health, medical and benefit insurer Aetna’s new Vitality Re XIV Ltd (Series 2023) health insurance-linked securities (ILS) has now priced, with the multiples on offer to investors at or near historic highs for the long-standing series of health insurance linked catastrophe bond deals.
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Driving home the higher spreads and pricing that are now a feature of the catastrophe bond and insurance-linked securities (ILS) market, is the fact even health, medical and benefit insurer Aetna’s latest Vitality Re XIV Ltd (Series 2023) health ILS deal now looks set to price in the upper-half of initial guidance.
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Aetna, the health, medical and benefits insurance unit of CVS Health, is back in the insurance-linked securities (ILS) market to sponsor a fourteenth Vitality Re health insurance catastrophe bond issuance, targeting $200m of reinsurance from a Vitality Re XIV Ltd (Series 2023) transaction.
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Aetna, the health, medical and benefits insurance unit of CVS Health, has now priced its thirteenth Vitality Re health insurance catastrophe bond structure and is on track to secure the targeted $200m of reinsurance from its Vitality Re XIII Ltd (Series 2022) transaction, with pricing at the mid and top-ends of guidance.
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Aetna, the health, medical and benefits insurance unit of CVS Health, has returned to the capital market and insurance-linked securities (ILS) for issuance of its thirteenth Vitality Re health insurance catastrophe bond structure, aiming to secure $200m of reinsurance from a Vitality Re XIII Ltd (Series 2022) transaction.
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Reflecting the fact insurance-linked securities (ILS) and catastrophe bond investors continue to have minimum return requirements, the pricing on Aetna’s twelfth and $200 million health insurance linked ILS deal, the Vitality Re XII Ltd (Series 2021) transaction, is likely to settle at the top-end of guidance.
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Aetna, the health, medical and benefits insurance arm of CVS Health, is back in the insurance-linked securities (ILS) market with what will be the firms twelfth sponsorship of a Vitality Re, health insurance linked catastrophe bond structure, seeking $200 million of reinsurance from a Vitality Re XII Ltd (Series 2021) transaction.
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For the second-quarter of 2020, the medical benefit claims ratio reported by CVS-owned health insurer Aetna dropped even further below levels where its Vitality Re series of health insurance-linked securities (ILS) transactions could be triggered.
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Despite the impacts of the Covid-19 coronavirus pandemic, the medical benefit claims ratio reported by insurer Aetna for the first-quarter of 2020 has remained well-below the levels where its Vitality Re series of health insurance-linked securities (ILS) transactions could be triggered, we can report.
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The secondary market prices for the Vitality Re series of health insurance-linked securities (ILS) transactions have all been discounted on the potential for the ongoing Covid-19 coronavirus pandemic to drive an elevated level of medical benefit claims through to insurer and sponsor Aetna.
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