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Health care benefits insurer Aetna has successfully completed its ninth capital markets backed reinsurance arrangement through a $200 million issuance of health insurance-linked securities (ILS), in the Vitality Re IX Ltd. (Series 2018-1) transaction.

The $200 million Vitality Re IX Ltd. (Series 2018-1) health insurance-linked securities (ILS) transaction from Aetna has now been priced and both tranches of notes have had their coupons fixed at levels below the bottom-end of the initial price guidance ranges.

Pricing for the in-the-market $200 million Vitality Re IX Ltd. (Series 2018-1) health insurance-linked securities (ILS) issuance has been delayed due to uncertainty over the future of health insurer fees, because the U.S. government has been considering the fees as part of government shutdown related budgetary debates.

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.

Standard & Poor’s (S&P) has upgraded the ratings for all tranches of Aetna’s Vitality Re V Ltd. and Vitality Re VI Ltd. insurance-linked securities (ILS) deals, following a lower-than-expected impact from the suspension of the industry-wide health insurer fee (HIF).

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.

Health insurance giant Aetna has returned to the insurance-linked securities (ILS) market for its eighth Vitality Re transaction, launching a Vitality Re VIII Ltd. (Series 2017-1) deal that seeks $200 million of reinsurance cover against a deterioration of its medical benefit ratio.

Health insurance company Aetna has hailed the completion of its latest ILS transaction, Vitality Re VII Ltd. (Series 2016-1), which it says help it to “reduce its required capital” while gaining a $200m source of collateralized excess of loss reinsurance.

As a result of a piece of health care and health insurance related U.S. legislation named the Consolidated Appropriations Act, 2016 (CAA), signed into law in December, all tranches of Aetna’s Vitality Re V Ltd. and Vitality Re VI Ltd. ILS deals have had their ratings downgraded.