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Hannover Life Re America hires experienced ILS exec Kennerly

Hannover Life Reassurance Company of America (HLR), the North American life and health reinsurance subsidiary of Hannover Re Group, has hired Keith Kennerly as Vice President, Structured Health & Financial Solutions, an experienced ILS sector exec.Kennerly, who actually joined HLR effective 24th February 2014, has a strong background in capital markets read the full article →

Claims experience benefits Aetna’s Vitality Re medical benefit ILS deals

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.S&P received updated modelled reset results from Milliman Inc., who provide risk modelling and calculation services for read the full article →

U.S. flu outbreak hits Aetna but unlikely to trigger Vitality Re deals

U.S. health insurer Aetna, which has a number of catastrophe bond like medical benefit linked securitizations providing it with reinsurance protection, has been hit hard by the influenza outbreak in the United States this winter. The U.S. flu outbreak now appears to have peaked, but the higher than normal incidence read the full article →

S&P upgrades Vitality Re and Vitality Re II on positive claims trends

A few weeks ago in January we wrote that ratings agency Standard & Poor's had placed the notes issued by Vitality Re Ltd. and Vitality Re II Ltd. on CreditWatch with positive implications. The two medical benefit ratio insurance-linked securities deals sponsored by Aetna had experienced positive claims trends and read the full article →

Improved claims experience leads S&P to be positive on Vitality Re and Vitality Re II

Hot on the heels of the launch of a third Vitality Re transaction which we covered here earlier, the two previous Vitality Re transactions issued by Aetna to cover health insurance risks linked to medical benefit claims ratios have both been placed on CreditWatch with positive implications by ratings agency read the full article →

S&P comment on rating methodology for medical benefit linked securitizations

Standard & Poor's has issued a press release which provides commentary on their approach to rating medical benefit linked securitization transactions such as the Vitality Re Ltd. and Vitality Re II Ltd. deals which were issued on behalf of insurer Aetna. The commentary provides some information on the factors that read the full article →

Vitality Re could attract the health care industry to insurance-linked securities

The Vitality Re Ltd. insurance-linked security transaction issued on behalf of Aetna in December was a groundbreaking transaction in many ways. It allowed Aetna to transfer the risks of medical benefit claims exceeding pre-defined attachment points to the capital markets in a way previously not attempted, using a catastrophe bond read the full article →

Aetna press release on Vitality Re medical benefit linked ILS

Aetna announced today through a press release the completion of the Vitality Re Ltd. medical benefit linked insurance linked security transaction. This catastrophe bond type structure provides Aetna with additional reinsurance cover for certain of its health insurance risks. The press release from Aetna follows below.Aetna Announces Transaction With Vitality read the full article →

Vitality Re Ltd., medical benefit linked insurance-linked security closes

As the year comes to a close its great to see such activity in the insurance-linked securities and catastrophe bond market as another deal closes. And its another innovative transaction, Vitality Re Ltd.,  which is a first in the market as it transfers medical benefit claims risk to the capital read the full article →

Vitality Re Ltd. medical benefit linked insurance-linked securities now marketing

An innovative new insurance-linked securities deal is being marketed by Goldman Sachs. Vitality Re Ltd. (a Cayman Islands based SPV) is the first ILS transaction seeking to transfer the risks of medical benefit claims exceeding pre-defined attachment points. This marks a new stage in the development of the insurance-linked securities read the full article →