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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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    The EBA has launched a consultation regarding its guidelines on implicit support for securitisation...

    News Round-up    21 January 2016
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    Butch Agnew has been brought in by Tokio Solution Management as vp, ILS portfolio...

    Job Swaps    20 January 2016
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    News Round-up    20 January 2016
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    News Round-up    19 January 2016
  • SCI Start the Week - 18 January

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

    Pipeline The pipeline continued to build last week as a number of new deals were added. At the fina...

    News    18 January 2016
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    The Basel Committee has released the final version of its fundamental review of the trading book (FR...

    News    15 January 2016
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    AXA Investment Mangers has appointed The Duy Nguyen as senior portfolio manager. He will be based in...

    Job Swaps    14 January 2016
  • ILS pro moves up

    KPMG in Bermuda has made a number of promotions to its team, including Eric Heinrichs to md. Heinric...

    Job Swaps    13 January 2016
  • SCI Start the Week - 11 January

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

    Pipeline Pipeline additions picked up last week as market participants returned to their desks fo...

    News    11 January 2016
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    Cantor Fitzgerald has appointed Kevin Reynolds and Timothy Swift to lead its debt capital markets or...

    Job Swaps    7 January 2016
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    Job Swaps    7 January 2016
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    Job Swaps    4 January 2016
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    The US SEC has issued its two annual staff reports on credit rating agencies registered as nationall...

    News Round-up    4 January 2016
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    Blue Capital Global Reinsurance Fund has approved a pair of resolutions at a special general meeting...

    Job Swaps    22 December 2015
  • SCI Start the Week - 21 December

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

    Pipeline The pipeline grew very quiet last week. The only deal to be added without disappearing bef...

    News    21 December 2015
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    The Bank of Italy's regulatory framework enacted in 2015 for financial intermediaries carrying out s...

    News Round-up    18 December 2015
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    Bloomberg has agreed to acquire the Barclays Risk Analytics and Index Solutions (BRAIS) business&...

    Job Swaps    17 December 2015
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    Lloyd's has announced plans to launch its own insurance-based index, the Lloyd's Index, in the middl...

    News Round-up    16 December 2015
  • SCI Start the Week - 14 December

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

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    News    14 December 2015
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    Markel has completed the purchase of CATCo Investment Management's assets, which will now operate un...

    Job Swaps    9 December 2015
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    Blue Capital Global Reinsurance Fund is set to revise its investment policy and modify the performan...

    Job Swaps    8 December 2015