securitisation

Around six weeks into a joint collaboration to offer insurers and reinsurers a new collateralised whole-account reinsurance offering backed by insurance-linked securities (ILS), Hyperion X and Vario Partners LLP told us they are seeing significant interest.

Hyperion X, the data analytics focused entity of the Hyperion Insurance Group, the global broker and consultancy that includes RKH Reinsurance Brokers, is partnering with Vario Partners LLP to launch a collateralised whole-account reinsurance offering backed by insurance-linked securities (ILS).

Vario Partners, the specialist risk advisor launched in late 2014 by three former PwC exec’s to connect portfolios of insurance or reinsurance risk with capital market investors through securitisation or ILS structures, has appointed industry veteran Michael Watson as a non-executive director.

Vario Partners, a specialist risk advisor launched in late 2014 by three former PwC exec’s to connect portfolios of insurance or reinsurance risk with capital market investors through securitisation or ILS structures, has added two new hires to its team as it readies itself for the January 2017 renewal.

Guy Carpenter firmly threw its hat into the insurance-linked strategies ring this week, saying that the partnership announced last week between the reinsurance broker and Vario Partners, forming a non-catastrophe risk ILS vehicle, is a key innovation and initiative for the broker.

Vario Global Capital Ltd. has been launched with a goal of becoming the “leading ILS investment vehicle and fund focused on non-catastrophe insurance linked securities” by specialist insurance analysis and modelling firm Vario Partners LLP and reinsurance broker Guy Carpenter.

Vario Partners, the specialist risk advisor launched in late 2014 by three former PwC exec’s to facilitate the bringing together of portfolios of insurance or reinsurance risk and the capital markets through securitisation or ILS means, has hired a CFO.

A new firm, named Vario Partners, is launching to advise on and facilitate the bringing together of portfolios of insurance risk and the capital markets through securitisation (ILS), with three founding employees all hailing from PwC backgrounds.

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.

The Crystal Credit transaction issued by Swiss Re to provide it with cat bond type credit reinsurance protection through securitisation seems to be destined to default. We’ve covered it a number of times (previous coverage here) over the last couple of years during which time it has been downgraded due to risk of default.