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Insurance-linked securities

Insurance-linked securities or ILS are single- or multiple-tranche securitisations facilitating the transfer of risk from the insurance sector to the capital markets. This transfer of risk usually references either catastrophe risk or life risk, though there have been securitisations of other insurance risk, such as motor. Catastrophe risk deals involve the transfer from one party to another of natural catastrophe risk, typically from non-life insurers or reinsurers via the capital markets to investors. It is facilitated by a variety of instruments, chief among them are catastrophe bonds or cat bonds; catastrophe risk obligations (CROs), which utilise collateralised debt obligation (CDO) technology to transfer risk to investors in multiple tranches; and industry loss warranty (ILW) based structures. Life risk transfer involves the transfer of longevity, mortality and pandemic risk from one party to another, typically from life insurers or life reinsurers via the capital markets to investors. Chief among the products used in this sector are life securitisations; life settlement securitisation; and longevity and mortality bonds.


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    Sector developments and company hires in structured finance

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    Market moves    16 November 2018
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    Analysis of SCI's databases underlines the significant demand for CLO paper seen in 3Q18, in...

    News Analysis    23 October 2018
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    News    15 October 2018
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    News Analysis    11 October 2018
  • Market moves - 28 September

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    Canadian pension partnership Canada Pension Plan Investment Board (CPPIB) announced today...

    Market moves    28 September 2018
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    News    6 September 2018
  • Finding the efficient frontier

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    The Structured Credit Interview    6 September 2018
  • Market moves - 31 August

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    Market moves    31 August 2018
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    News Analysis    15 August 2018
  • SCI Start the Week - 13 August

    A look at the major activity in structured finance over the past seven days

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    News    13 August 2018
  • Market moves - 10 August

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    News    10 August 2018
  • Market moves - 3 August

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    News    3 August 2018
  • SCI Start the Week - 23 July

    A look at the major activity in structured finance over the past seven days

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    News    23 July 2018
  • SCI Start the Week - 16 July

    A look at the major activity in structured finance over the past seven days

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    News    16 July 2018
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    Market moves    15 June 2018
  • SCI Start the Week - 11 June

    A look at the major activity in structured finance over the past seven days

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    News    11 June 2018
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    News Analysis    4 June 2018
  • Market moves - 1 June

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    Market moves    1 June 2018
  • Market moves - 25 May

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    Market moves    25 May 2018