La Vie Re Limited

According to Artemis’ sources, the issuance of a $100 million mortality catastrophe bond, sponsored by Securian Financial Group life insurance subsidiary, Minnesota Life Insurance Company, has now been cancelled after investor feedback related to concerns over COVID-19 pandemic related exposure.

Securian Financial Group life insurance subsidiary, Minnesota Life Insurance Company has returned to the insurance-linked securities (ILS) market to sponsor its second mortality catastrophe bond transaction, seeking another $100 million or more of capital markets backed extreme mortality reinsurance with a La Vie Re Limited (Series 2021-1) issuance.

The potential impacts of a second wave of the COVID-19 pandemic on mortality, as well as how vaccines and other factors play into this, was modelled for in the recent La Vie Re Limited (Series 2020-1) mortality catastrophe bond issuance, RMS has explained.

Insurance-linked securities (ILS) and catastrophe bond investors were supportive of the first mortality bond to feature an indemnity trigger, according to Willis Re Securities who structured and placed the deal.

Securian Financial recognises the capital efficiencies gained from becoming the first U.S. direct writer of life insurance to tap into the capital markets for reinsurance protection using a mortality catastrophe bond, after its $100 million La Vie Re Limited (Series 2020-1)  transaction completed.

Life insurer and part of the Securian Financial Group, Minnesota Life Insurance Company is set to benefit from $100 million of capital markets backed reinsurance protection with its first mortality catastrophe bond, as the La Vie Re Limited (Series 2020-1)  transaction has now been priced towards the upper-end of guidance.

Price guidance has narrowed towards the upper-end of the marketed range for the new La Vie Re Limited (Series 2020-1) mortality catastrophe bond transaction from life insurer and part of the Securian Financial Group, Minnesota Life Insurance Company.

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.