Vitality Re XIV

Health, medical and benefit insurer Aetna’s new Vitality Re XIV Ltd (Series 2023) health insurance-linked securities (ILS) has now priced, with the multiples on offer to investors at or near historic highs for the long-standing series of health insurance linked catastrophe bond deals.

Driving home the higher spreads and pricing that are now a feature of the catastrophe bond and insurance-linked securities (ILS) market, is the fact even health, medical and benefit insurer Aetna’s latest Vitality Re XIV Ltd (Series 2023) health ILS deal now looks set to price in the upper-half of initial guidance.

Aetna, the health, medical and benefits insurance unit of CVS Health, is back in the insurance-linked securities (ILS) market to sponsor a fourteenth Vitality Re health insurance catastrophe bond issuance, targeting $200m of reinsurance from a Vitality Re XIV Ltd (Series 2023) transaction.