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.
Swiss Re have announced completion of their latest issuance under the Vita Capital mortality catastrophe bond scheme. The latest two series of notes have been issued under Vita Capital IV Ltd. and enables Swiss Re to transfer $175m of extreme mortality risk to the capital markets.
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.
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.
Aetna’s latest and eighth medical benefit claims insurance-linked security (ILS) transaction, Vitality Re VIII Ltd. (Series 2017-1), has now been priced at the low end of coupon guidance, once again reflecting investor demand for these very remote health insurance related risks.