life insurance securitization

FWU Group subsidiary and Luxembourg based life insurance company Atlanticlux has completed its proposed Anima Re value in force (ViF) life insurance linked securitisation deal through a private placement, foregoing the need for the deal to be rated.

U.S. life reinsurer, Reinsurance Group of America Inc. (RGA), has successfully completed its life reinsurance embedded value securitisation transaction, raising $300m from the sale of the notes through issuer Chesterfield Financial Holdings LLC.

Life reinsurer Reinsurance Group of America Inc. is marketing a life reinsurance embedded value securitisation transaction, through an issuer named Chesterfield Financial Holdings LLC, as it seeks to recognise some of the profitability of a defined book of life business.

FWU Group subsidiary, Luxembourg based life insurance company Atlanticlux is to tap the capital markets once again in a proposed €55 million value in force (ViF) life insurance linked securitisation through incorporated cell vehicle Anima Re A IC Limited.

The impact of alternative reinsurance capital in the life reinsurance sector provides one of the largest traditional players with both competition and new opportunities, according to the CEO of Reinsurance Group of America.

Last year investment bank Goldman Sachs highlighted alternative capital in reinsurance as a key disruptive theme to watch in business today. This year banking and investments giant Citi Group has highlighted insurance securitization as an important disruptive innovation.

Resolution Life, the life focused arm of insurance entrepreneur Clive Cowdery’s Resolution Group, has set up a new permanent capital structure which aims to acquire and manage in-force portfolios of life insurance to benefit its institutional investors.

SCOR Global Life, a subsidiary of French reinsurer SCOR SE, has completed a VIF (Value of In Force) life reinsurance transaction with Mediterráneo Vida, a Spanish insurer owned by Banco Sabadell.

Rating agency A.M. Best has affirmed the debt rating on the $800m tranche of life insurance-linked securities which were issued by through Northwind Holdings LLC., on behalf of sponsoring life insurer UNUM Group.

According to the results of a survey released today more life insurance companies are buying reinsurance protection, with Solvency II suspected a key driver of sales, but it has not yet resulted in increased issuance of life insurance-linked securities (ILS) or mortality catastrophe bonds.