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Aetna’s claim ratio well-below Vitality Re ILS trigger in Q1 despite Covid-19

Despite the impacts of the Covid-19 coronavirus pandemic, the medical benefit claims ratio reported by insurer Aetna for the first-quarter of 2020 has remained well-below the levels where its Vitality Re series of health insurance-linked securities (ILS) transactions could be triggered, we can report. As we'd explained previously, the Vitality Re read the full article →

Vitality Re health ILS all discounted in secondary market on Covid-19

The secondary market prices for the Vitality Re series of health insurance-linked securities (ILS) transactions have all been discounted on the potential for the ongoing Covid-19 coronavirus pandemic to drive an elevated level of medical benefit claims through to insurer and sponsor Aetna. As we explained more than a week ago, read the full article →

Vitality Re health ILS at risk from coronavirus morbidity stress: S&P

The Vitality Re series of health insurance-linked securities (ILS) transactions, which provide reinsurance protection to health insurer Aetna, are exposed to potential triggering by the coronavirus pandemic should it result in "severe morbidity stress", rating agency S&P has said. The Vitality Re series of health ILS transactions are a way for read the full article →

Aetna’s Vitality Re XI health ILS coupon pricing falls ~25%

Aetna, the health, medical and benefits insurance arm of CVS Health, is set to secure its latest and eleventh insurance-linked securities (ILS) transaction Vitality Re XI Ltd. (Series 2020) at attractive pricing, as both tranches saw their respective coupons price down roughly 25%. Aetna returned to the ILS market for its read the full article →

Vitality Re XI health ILS pricing falls while marketing for Aetna

The price guidance has fallen for both of the tranches of notes to be issued as part of Aetna's latest insurance-linked securities (ILS) transaction Vitality Re XI Ltd. (Series 2020) signalling strong investor appetite for what has become an annual diversifying peril for some investors in the sector. Aetna, the health, read the full article →

Aetna brings eleventh $200m Vitality Re XI health ILS for 2020

Aetna, the health, medical and benefits insurance arm of CVS Health, has returned to the insurance-linked securities (ILS) market for its eleventh Vitality Re transaction (Vitality Re XI Ltd. (Series 2020)), as it continues to leverage the capital markets as a source of reinsurance capital. The Vitality Re series of ILS read the full article →

CVS Health owned Aetna secures $200m Vitality Re X collateralized reinsurance

Aetna, the health, medical and benefits insurance arm of CVS Health, has successfully completed its latest and tenth trip to the catastrophe bond and insurance-linked securities (ILS) market for collateralized reinsurance, with its $200 million Vitality Re X Ltd. (Series 2019) deal. Aetna tends to return to the ILS market each read the full article →

Pricing on Aetna’s Vitality Re X health ILS falls to bottom of guidance

Health insurance giant Aetna will be delighted with the response from ILS investors to its latest and tenth health or medical benefit risk ILS transaction, the $200 million Vitality Re X Ltd. (Series 2019) deal, as pricing falls to the bottom of initial guidance. Aetna returned to the insurance-linked securities (ILS) read the full article →

Aetna launches $200m tenth Vitality Re health ILS transaction

Health insurance giant Aetna is returning to the capital markets and insurance-linked securities with what will be its tenth health or medical benefit risk ILS transaction, a $200 million Vitality Re X Ltd. (Series 2019) deal. Aetna has been tapping the capital markets, ILS funds and their investors as a source read the full article →

Aetna closes $200m Vitality Re IX health insurance-linked securities deal

Health care benefits insurer Aetna has successfully completed its ninth capital markets backed reinsurance arrangement through a $200 million issuance of health insurance-linked securities (ILS), in the Vitality Re IX Ltd. (Series 2018-1) transaction. The issuance was completed using newly established Cayman Islands special purpose vehicle Vitality Re IX Ltd. which read the full article →