health insurance

Ratings agency Standard & Poor’s has upgraded or affirmed the ratings on a number of the medial benefit ratio insurance-linked securities (ILS) transactions sponsored by health insurer Aetna after receiving the annual reset results.

High profile investor Warren Buffett’s reinsurance firm Berkshire Hathaway Inc. has entered into another large reinsurance transaction in the life & health sector. Berkshire Hathaway will reinsure $923m (€700m) of healthcare related claims for Irish state health insurer VHI.

U.S. health insurer Aetna, which has a number of catastrophe bond like medical benefit linked securitizations providing it with reinsurance protection, has been hit hard by the influenza outbreak in the United States this winter. The U.S. flu outbreak now appears to have peaked, but the higher than normal incidence of flu this season has […]

The first insurance-linked security transaction to come to market in 2013 has now completed successfully. The Vitality Re IV Ltd. (Series 2013-1) medical benefit linked securitization provides health insurer Aetna with a $150m four-year source of fully-collateralized excess of loss reinsurance coverage on a portion of its group commercial health insurance business.

Once again the demand for a new insurance-linked securities transaction has been significantly above the volume of notes being issued enabling the price to be pushed down to well below the range it was initially marketed at. Aetna’s latest Vitality Re IV Ltd. (Series 2013-1) medical benefit linked securitization saw a great deal of demand […]

The first insurance-linked security transaction to come to market in 2013 is the fourth in life insurer Aetna Life Insurance Company’s series of Vitality Re medical benefit linked securitization deals. Vitality Re IV Ltd. (Series 2013-1) is being marketed and seeks to issue at least $150m of medical benefit claims linked ILS notes to investors […]

A few weeks ago in January we wrote that ratings agency Standard & Poor’s had placed the notes issued by Vitality Re Ltd. and Vitality Re II Ltd. on CreditWatch with positive implications. The two medical benefit ratio insurance-linked securities deals sponsored by Aetna had experienced positive claims trends and S&P wrote that they could […]

The variable rate note programme and securities issued by the Vitality Re III Ltd. special purpose vehicle have been admitted for listing to the Cayman Islands Stock Exchange. The recently completed medical benefit linked insurance-linked security transaction provides insurer Aetna with a source of reinsurance cover against medical benefit claims breaching pre-defined trigger points on […]

Aetna have completed their third insurance-linked security transaction which allows them to transfer the risk of catastrophic levels of medical benefit claims hitting the firm. The $150m medical benefit linked ILS issued through Cayman Island domiciled Vitality Re III Ltd. provides catastrophe bond type cover to Aetna subsidiary Health Re Inc. against medical benefits claims […]

Hot on the heels of the launch of a third Vitality Re transaction which we covered here earlier, the two previous Vitality Re transactions issued by Aetna to cover health insurance risks linked to medical benefit claims ratios have both been placed on CreditWatch with positive implications by ratings agency Standard & Poor’s. S&P cites […]