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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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 -
TigerRisk builds ILS trading capability
TigerRisk Capital Markets & Advisory has received FINRA approval to trade catastrophe bonds...
Job Swaps 4 May 2016 -
Kane platform rebranded
Artex Risk Solutions has rebranded the insurance management operations it recently purchased from Ka...
Job Swaps 4 May 2016 -
London touted as cyber ILS hub
The London ILS market is "perfectly positioned to become the global centre for cyber risk insurance"...
News Round-up 27 April 2016 -
SCI Start the Week - 25 April
A look at the major activity in structured finance over the past seven days
Pipeline Last week's pipeline additions were concentrated in ABS. There were six new ABS announced,...
News 25 April 2016 -
Cat bond issuance hits record
Catastrophe bond issuance set new records for issuance in 1Q16, according to Aon Benfield's quarterl...
News 21 April 2016 -
Global ILS head poached
TigerRisk Partners has recruited Philipp Kusche as partner and global head of ILS and capit...
Job Swaps 19 April 2016 -
SCI Start the Week - 18 April
A look at the major activity in structured finance over the past seven days
Pipeline Last week there were nine ABS deals added to the pipeline. A further three RMBS and two CM...
News 18 April 2016 -
Bermuda law firm beefs up
Harneys has recruited corporate and insurance lawyer Michael Skrbic as counsel in its Bermuda office...
Job Swaps 14 April 2016 -
Cat bond fund launched
Lombard Odier IM has launched its first catastrophe bond fund, following its recruitment dr...
News Round-up 13 April 2016