Swiss Re’s Vita Capital IV Ltd. mortality risk insurance-linked securities have had their rating downgraded by Standard & Poor’s due to the perceived heightened exposure that tsunami’s present to the transaction. Vita Capital IV Ltd’s Series III is an insurance-linked securitization which is exposed to increases in mortality in the U.S. and Japan over a […]
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The Series III notes of Swiss Re’s Vita Capital VI Ltd. mortality insurance-linked security transaction which was issued in October 2010 have been placed on CreditWatch negative by Standard & Poor’s as they have exposure to increased mortality levels in Japan.
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.
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.
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.
The Vitality Re series of health insurance-linked securities (ILS) transactions, which provide reinsurance protection to health insurer Aetna, are exposed to potential triggering by the coronavirus pandemic should it result in “severe morbidity stress”, rating agency S&P has said.
U.S. primary insurance giant State Farm has once again privately syndicated and quietly issued its latest catastrophe bond, a $300 million Merna Re II Ltd. (Series 2019-1) securing the firm an expanded source of collateralized U.S. earthquake reinsurance protection.
Health insurance giant Aetna is returning to the capital markets and insurance-linked securities with what will be its tenth health or medical benefit risk ILS transaction, a $200 million Vitality Re X Ltd. (Series 2019) deal.
A new health insurance-linked securities (ILS) transaction from Aetna is the first cat bond or ILS transaction to launch and be listed in our Deal Directory in 2018, with a $200 million Vitality Re IX Ltd. (Series 2018-1) that will secure reinsurance protection against a deterioration of the insurers’ medical benefit claims ratio.
Health insurance company Aetna said that its successful eighth Vitality Re health insurance linked securitisation transaction, the $200 million Vitality Re VIII Ltd. (Series 2017-1), contributes to an enhanced capital position for the firm.