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Malta ready to host ILS and catastrophe bond issuers

Malta is now ready to act as a domicile for insurance-linked securities (ILS) and catastrophe bond issuers after regulations governing the formation and domicile of Reinsurance Special Purpose Vehicles (RSPV) were finalised and came into law.The new law came into effect on the 27th December when the regulations were published read the full article →

Malta targets ILS with Special Purpose Reinsurance Vehicle (SPRV) legislation

The southern European country of Malta is targeting the insurance-linked securities (ILS), catastrophe bond and reinsurance convergence sector with a legislative effort to put in place a legal framework allowing for the formation and domicile of Special Purpose Reinsurance Vehicles (SPRV) in Malta.The Malta Financial Services Authority (the MFSA) put read the full article →

North Carolina wants to become a home to cat bond and ILS issuers

North Carolina is seeking to enact legislation which would make it a home to captive insurance and reinsurance companies and special purpose vehicles such as catastrophe bond issuers. In an effort to grow its share of the re/insurance market bill SB 476, sponsored by two Republican Senators, has moved through read the full article →

First Solvency II compliant catastrophe bond SPRV established in Ireland

The completion of French reinsurer SCOR's latest catastrophe bond deal, Atlas Reinsurance VII Limited, last week was it turns out a first for the market, according to financial law firm Walkers Ireland. Walkers Ireland acted as Irish legal and tax counsel, as well as listing agent for the transaction and read the full article →

Walkers clarifies the approval process for Irish insurance-linked security SPRV’s

Global law firm with a specialist team devoted to insurance-linked securities Walkers Group have published a useful client guidance document regarding the approval process for the establishment of Irish special purpose reinsurance vehicles (SPRV's). Walkers had a number of client enquiries about the process which their ILS team took to read the full article →

Insurance-linked securities: Insurance companies or issuers of asset-backed securities?

The U.S. Securities and Exchange Commission (SEC) has voted to propose new rules and amendments to the way ratings agencies conduct their business. The proposed rules, which the members of the SEC voted to put out for comments for sixty days to get feedback from interested parties, are intended to read the full article →