extreme mortality

A new mortality catastrophe bond transaction is in the market, as life insurer and part of the Securian Financial Group, Minnesota Life Insurance Company looks to the capital markets for $100 million of more of mortality related life reinsurance through a La Vie Re Limited (Series 2020-1) deal.

The first catastrophe bond rating action caused by the Covid-19 coronavirus pandemic has now been resolved and reverted, as S&P Global Ratings affirmed Swiss Re’s late 2015 Vita Capital VI Limited (Series 2015-1) transaction and removed it from a negative watch.

The first catastrophe bond rating action due to the Covid-19 coronavirus pandemic is unsurprisingly related to one of the few mortality cat bonds left in the market, Swiss Re’s late 2015 Vita Capital VI Limited (Series 2015-1) transaction, which has been put on a negative watch by S&P Global Ratings.

French reinsurance giant SCOR has established its fourth contingent capital facility, securing an EUR 300 million source of responsive capital coverage for natural catastrophe and extreme mortality events.

Despite the significant catastrophe losses facing the reinsurance industry, French reinsurer SCOR has reported a profit for the first none months of 2017, as support from its retrocession providers helped the firm to better manage its losses.

Global reinsurance firm SCOR said that it expects the impacts of hurricanes Harvey, Irma and Maria will likely remain an earnings, rather than capital event, and that it does not expect its contingent capital facility will be triggered as a result of the losses it will suffer.

French reinsurance company SCOR has announced the issuance of a new three-year contingent capital facility that will provide the company with EUR 300 million of cover against losses from natural catastrophe and extreme mortality events.

Global reinsurance firm Swiss Re’s latest catastrophe bond, the Vita Capital VI Limited (Series 2015-1) extreme mortality transaction, has remained at $100 million in size and the coupon pricing has been fixed at just below the middle of initial guidance.

One of the world’s largest reinsurance companies Swiss Re is returning to the capital markets with its first excess mortality catastrophe bond transaction since 2012, seeking at least $100 million of retrocession through a Vita Capital VI Limited (Series 2015-1) issuance.

German reinsurance firm Hannover Re has successfully completed a retrocessional transfer of extreme mortality risks to the capital markets, through the placement of an index-linked mortality swap with largely institutional investors.