Ratings agency Standard & Poor’s has upgraded or affirmed the ratings on a number of the medial benefit ratio insurance-linked securities (ILS) transactions sponsored by health insurer Aetna after receiving the annual reset results.
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The variable rate note programme and securities issued by the Vitality Re III Ltd. special purpose vehicle have been admitted for listing to the Cayman Islands Stock Exchange. The recently completed medical benefit linked insurance-linked security transaction provides insurer Aetna with a source of reinsurance cover against medical benefit claims breaching pre-defined trigger points on […]
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Aetna have completed their third insurance-linked security transaction which allows them to transfer the risk of catastrophic levels of medical benefit claims hitting the firm. The $150m medical benefit linked ILS issued through Cayman Island domiciled Vitality Re III Ltd. provides catastrophe bond type cover to Aetna subsidiary Health Re Inc. against medical benefits claims […]
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Aetna Life Insurance are returning to the insurance-linked security market to issue a third in their Vitality series of medical benefit linked securitizations. Vitality Re III Ltd. Series 2012-1, which is being issued through a Caymans Islands domiciled SPV, is seeking to issue $150m of medical benefit linked notes to investors in two tranches. The […]
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