Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

Avondale Securities placed back on CreditWatch by S&P


Well that didn’t last long. The life insurance-linked notes issued by Avondale Securities SA. have been placed back on CreditWatch negative by ratings agency Standard & Poor’s after the long-term counterparty credit rating of the Bank of Ireland was placed on CreditWatch negative.

The notes issued by Avondale Securities were designed to transfer a block of life insurance risk to the capital markets through securitisation allowing the Bank of Ireland to capitalise on the expected value-in-force of a block of life insurance policies. As such the notes ae weak-linked to the Bank of Ireland credit ratings.

The ratings have been impacted by the current financial markets uncertainty Europe and the issues with sovereign debt and banking uncertainty. Avondale Securities has undergone a number of ratings actions due to this and you can read all about the various changes in previous articles at the link below.

Read our previous coverage on Avondale Securities.

Register today for ILS Asia 2023, our next insurance-linked securities (ILS) market conference. Held in Singapore, July 13th, 2023.

Artemis ILS Asia 2023 - Insurance-linked securities conference in Singapore

Get a ticket soon to ensure you can attend. Secure your place at the event here!

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.