life insurance securitization


Ballantyne Re life ILS investors to finally realise losses in restructuring

Investors in the Scottish Re sponsored 2006 Ballantyne Re Ltd. Regulation XXX life insurance-linked securities (ILS) transaction look set to finally realise their losses, as a restructuring of the vehicle, novation of the underlying reinsurance and winding up procedure has been proposed.Ballantyne Re has a long and checkered history in read the full article →

Unum’s Northwind life ILS affirmed again on ability to service the notes

The ratings for insurer Unum’s outstanding Northwind life insurance-linked securities (ILS) have been affirmed again, as the ability of available cash flows to service the notes remains adequate, according to A.M. Best.The Northwind life ILS transaction, which was issued in 2007, was the first life insurance-linked securitization of its kind, read the full article →

Unum’s Northwind life ILS affirmed, performing in line with expectations

Unum's outstanding Northwind insurance-linked securities (ILS) have ben affirmed, as the performance of the first-of-its-kind deal is now deemed in line with expectations by rating agency Moody's.The Northwind life ILS transaction was the first life insurance-linked securitization of its kind, when it was issued back in 2007.The Northwind transaction saw read the full article →

J.P. Morgan to pay $400m to settle Orkney Re II & Ballantyne Re cases

J.P. Morgan has agreed a settlement of legal cases related to its management of the investment accounts for the Scottish Re life insurance securitization transactions issued by Orkney Re II Ltd. and Ballantyne Re plc, with a cash payout of $400 million now expected.The $485 million Orkney Re II of read the full article →

“Reinsurance platform” to support life ILS growth: Rivas, Credit Suisse

The development of a “reinsurance platform” at Credit Suisse Insurance Linked Strategies Ltd. is set to further expand the unit’s capabilities in the global life reinsurance and ILS space, according to Javier Rivas, Director of ILS at the firm.Demand in the life insurance industry for hedging mechanisms such as longevity read the full article →

Secquaero in €70m SQ ReVita II life ViF securitisation for Atlanticlux

Secquaero Advisors AG has completed another value-in-force life insurance securitisation for Luxembourg domiciled life insurer Atlanticlux Lebensversicherung S.A, in a €70m SQ ReVita II IC Ltd. transaction featuring a closed-block of European life insurance.Secquaero Advisors, an advisory and consulting firm that specialises in intermediation of insurance or reinsurance risk to read the full article →

Hannover Life Re adds SVP for life reinsurance & securitization

Hannover Life Reassurance Company of America (Hannover Life Re or Hannover Re US) has announced the promotion of Dale Mensik to Senior Vice President, Financial Solutions, a role in which he will lead certain of the firm's life reinsurance capital markets activities.Mensik has been with Hannover Life Re since 2012, read the full article →

Canadian K-Note reinsurance collateral financing transaction completed

Karson Management (Bermuda) Limited, led by veteran of the insurance-linked security (ILS) and alternative risk financing sector Derrell Hendrix, alongside BNY Mellon have announced the successful completion of the first K-Note reinsurance collateral financing transaction in Canada.We first wrote about Karson Management's collateral alternatives and the development of the K-Note read the full article →

S&P withdraws Ballantyne Re Reg XXX life securitization ratings

It's no surprise to read that Standard & Poor's has withdrawn the majority of the ratings it held on Scottish Re’s 2006 Ballantyne Re Plc Regulation XXX type life insurance-linked securities (ILS), as it no longer sees the market interest in maintaining the ratings.This is unsurprising since Scottish Re's life read the full article →

Northwind life insurance-linked securities affirmed by A.M. Best

Rating agency A.M. Best has affirmed the ratings on the $800m tranche of life insurance-linked securities (ILS) issued by Northwind Holdings LLC., on behalf of sponsoring life insurer the Unum Group.The Northwind transaction, which was the first life insurance-linked securitization of its kind when it came to market back in read the full article →