Mortgage ILS breaks new ground

Category: Insurance-linked securities ABS

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Arch Capital Group recently closed its first public rated mortgage ILS (SCI 18 October). Dubbed Bellemeade Re 2017-1, the US$368.11m transaction features structural departures from previous deals in the programme, while Morningstar Credit Rating's rating facilitated wider interest and broadened investor participation.

James Bennison, svp at Arch Capital Group, comments that as well as being the first rated transaction from the firm, it is also the first of its mortgage ILS transactions to be EU risk retention-compliant.

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