life insurance securitization

Back in October we wrote that two life insurance-linked securitization transactions sponsored by Unum Group had been favourably reviewed by Moody’s and their ratings affirmed based on the both deals performance and the quality of the underlying assets. Now another rating agency, A.M. Best, has similarly affirmed both sets of securitized life insurance linked notes […]

Ratings agency Moody’s have affirmed their rating on two life insurance-linked securitization transactions sponsored by Unum Group. Northwind was the first securitization of individual disability insurance policies issued back in 2007, while Tailwind was the first securtization of a defined block of long-term disability claims in 2006. The transactions were seen as a way to […]

Scottish Re’s 2006 Ballantyne Re life insurance securitization transaction has been heading for what seems like an inevitable default for some time now. The Regulation XXX type life insurance linked transaction saw huge mark-to-market losses on the assets in the underlying collateral accounts. As a result it experienced regular failures to make interest payments resulting […]

Fitch Ratings has reaffirmed the ratings of Signum Finance Cayman Ltd. Series 2010-09, a life securitization type transaction which provides Goldman Sachs with a mortality hedge for a defined block of life insurance. The latest assessment was based on two factors; the rating of issuer Goldman Sachs, as guarantor to the deals swap counterparty Goldman […]

The insurance-linked securities and catastrophe bond market covers a broad universe of risk considering its size of near $15 billion. Having begun with a focus on natural perils, with the first transactions coming to market in 1996/7, the ability to securitize risks and sell the resulting notes to investors, there by effectively transferring the risk […]

Another week has passed and as usual on a Monday morning we start the week with an update for you on the most popular stories of the last week. This week it includes life insurance securitization, the size of the catastrophe bond market and news on the impact that capital market capital is having on […]

You’d be forgiven for thinking that the insurance-linked securities market was only about catastrophe risk securitization if you looked at our Deal Directory and in recent months it has been. However, according to panelists at ratings agency Standard & Poor’s recent Insurance 2012 Conference there’s life in life insurance-linked securitization yet, particularly in the securitization […]

Hartford Financial Services Group Inc. are reportedly looking at options for ways to best reduce and isolate the risks from its annuities and life insurance business from the rest of its operations, according to this article on Bloomberg. Investment losses in recent years from their life insurance unit have caused issues at the group with […]

Global reinsurer Swiss Re see the recent successful completion of the Vecta I Ltd. embedded value life insurance securitization as a positive sign for the market. In this article from A.M. Best, Swiss Re’s Head of Life & Health Alison Martin says that the completion of Vecta I as the first securitization of embedded value […]

Some further details are gradually emerging on the Vecta I Ltd. embedded value life insurance securitization thanks to press releases from some of the transactions participants. The first embedded value deal to come to market since 2007, Vecta I Ltd. is also the first insurance-linked securitization of Canadian life insurance embedded value.