health insurance

Aetna Life Insurance are returning to the insurance-linked security market to issue a third in their Vitality series of medical benefit linked securitizations. Vitality Re III Ltd. Series 2012-1, which is being issued through a Caymans Islands domiciled SPV, is seeking to issue $150m of medical benefit linked notes to investors in two tranches. The […]

Standard & Poor’s has issued a press release which provides commentary on their approach to rating medical benefit linked securitization transactions such as the Vitality Re Ltd. and Vitality Re II Ltd. deals which were issued on behalf of insurer Aetna. The commentary provides some information on the factors that S&P consider during their analysis […]

Aetna have completed their latest insurance-linked security transaction with a successful issuance under their Vitality Re II Ltd. Cayman Islands SPV. They’ve secured $150m of catastrophe bond type cover for their Health Re Inc. subsidiary making this their second medical benefit insurance-linked security transaction.

After the success of their first medical benefit insurance-linked security transaction Vitality Re which came to market in December last year, Aetna are seeking to secure additional catastrophe bond type cover for their Health Re Inc. subsidiary through a second transaction.

The Vitality Re Ltd. insurance-linked security transaction issued on behalf of Aetna in December was a groundbreaking transaction in many ways. It allowed Aetna to transfer the risks of medical benefit claims exceeding pre-defined attachment points to the capital markets in a way previously not attempted, using a catastrophe bond type ILS structure.

An innovative new insurance-linked securities deal is being marketed by Goldman Sachs. Vitality Re Ltd. (a Cayman Islands based SPV) is the first ILS transaction seeking to transfer the risks of medical benefit claims exceeding pre-defined attachment points. This marks a new stage in the development of the insurance-linked securities market as confidence increases and […]