Structured Credit Investor SCI’s 5th Annual Capital Relief Trades Seminar 17 October 2019, London
LOGIN
 

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.


  • ILS fund administrator acquired

    Horseshoe Group has acquired IKONIC Fund Services, expanding its service offering to include fund ad...

    Job Swaps    14 June 2016
  • SCI Start the Week - 13 June

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

    Pipeline The total number of deals joining the pipeline remained consistent last week, although ABS...

    News    13 June 2016
  • SCI Start the Week - 6 June

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

    Pipeline The holiday-shortened week resulted in a slowing of the pace of pipeline additions. As wel...

    News    6 June 2016
  • Everglades Re upgraded

    S&P has raised its issue credit rating on Everglades Re Series 2014-1 notes to single-B plus...

    News Round-up    2 June 2016
  • Ex-SEC counsel joins law firm

    BakerHostetler has added Walter Van Dorn to its New York office as a partner. He was most recently a...

    Job Swaps    31 May 2016
  • Insurance risk specialist hired

    Miller has recruited Benjamin Gibbons in a business production and senior broking role, where he wil...

    Job Swaps    23 May 2016
  • Pandemic ILS prepped

    The World Bank Group has launched the Pandemic Emergency Financing Facility (PEF), a global financin...

    News Round-up    23 May 2016
  • SCI Start the Week - 23 May

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

    Pipeline ABS additions to the pipeline carried on last week at a good pace, as 11 such deals joined...

    News    23 May 2016
  • Solvency 2 to boost ILS?

    The size of the collateralised protection market is expected to increase from US$70bn to US$160bn by...

    News Round-up    20 May 2016
  • ILS methodology RFC issued

    AM Best has issued a request for comment on its draft Best's Insurance-Linked Securities and Structu...

    News Round-up    20 May 2016
  • SFIG adds advocacy leader

    SFIG has named Thomas McCrocklin as director of advocacy. He will report directly to executive direc...

    Job Swaps    18 May 2016
  • SCI Start the Week - 16 May

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

    Pipeline While ABS additions to the pipeline were steady last week, they were joined by a greater v...

    News    16 May 2016
  • Everglades loss risk up slightly

    S&P has affirmed its double-B rating on Everglades Re II Series 2015-1. The probability of a...

    News Round-up    16 May 2016
  • ILS pro takes full reins

    Rafal Walkiewicz has been appointed as the sole ceo of Willis Capital Markets & Advisory (WC...

    Job Swaps    12 May 2016
  • Swiss Re promotes ILS leaders

    Swiss Re has named Judy Klugman and Jean-Louis Monnier as co-heads of its global ILS business. Klugm...

    Job Swaps    11 May 2016
  • Legacy loan ILS hits market

    United Guaranty Corporation (UGC) has obtained US$298.6m in reinsurance coverage for its legacy port...

    News Round-up    10 May 2016
  • Insurers' structured holdings slip

    Life insurers held more than US$380bn of structured products securities at the end of 2015, which We...

    News    10 May 2016
  • ILS affirmed on resets

    Fitch has affirmed its ratings on five tranches from four catastrophe bonds - Long Point R...

    News Round-up    9 May 2016
  • SCI Start the Week - 9 May

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

    Pipeline Last week's pipeline additions consisted of eight ABS, two RMBS and a single CMBS. The A...

    News    9 May 2016
  • Marsh recruits risk pro

    Marsh has hired Abbey Sturrock for its political risk and structured credit practice, serving as svp...

    Job Swaps    5 May 2016
  • Securitisation leader named

    Hannover Life Reinsurance Company of America (Hannover Re US) has promoted Dale Mensik to svp, finan...

    Job Swaps    4 May 2016