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

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.

  • Reinsurer hires for ILS push

    Sequant Re has hired Victor Baillargeon as chief underwriting officer. He is tasked with leading the...

    Job Swaps    11 September 2015
  • Non-cat ILS vehicle launched

    Vario Partners and Guy Carpenter have teamed up to form a new ILS investment vehicle and fund that f...

    Job Swaps    10 September 2015
  • CATCo assets sold

    Markel is set to acquire CATCo Investment Management's assets in a deal that is expected to...

    Job Swaps    10 September 2015
  • SF practice recruits trio

    Schulte Roth & Zabel has expanded its structured finance practice by adding Boris Ziser and&...

    Job Swaps    10 September 2015
  • UK insurer set to be sold

    Mitsui Sumitomo Insurance is set to acquire Amlin for approximately £3.47m. As part of the...

    Job Swaps    8 September 2015
  • SCI Start the Week - 7 September

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

    Pipeline Last week six ABS, five RMBS, one CMBS and two CLOs were added to the pipeline. The CMBS w...

    News    7 September 2015
  • SCI Start the Week - 24 August

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

    Pipeline Primary market activity was limited last week, with three new ABS and a single CLO added t...

    News    24 August 2015
  • APAC ILS issuance to rise

    Fitch expects catastrophe bond issuance to increase in Asia-Pacific - particularly for catastrophe-p...

    News Round-up    24 August 2015
  • ILS underwriting scrutinised

    The reinsurance sector is adapting to the influx of alternative capital by providing innovative solu...

    News    19 August 2015
  • ILS upgraded on sponsor action

    S&P has raised its credit ratings on Avondale Securities class A1 and A2 notes from double-B...

    News Round-up    19 August 2015
  • SCI Start the Week - 17 August

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

    Pipeline There were fewer additions to the pipeline last week than there had been the week before....

    News    17 August 2015
  • ILS chief replaced

    Adam Szakmary has been appointed ceo and portfolio manager of Blue Capital Management. He replaces B...

    Job Swaps    17 August 2015
  • SF head preps new firm

    Michael Millette is set to launch Hudson Structured Capital Management following his departure from...

    Job Swaps    17 August 2015
  • ILS unit revamped

    Munich Re has established a new unit within its special and financial risks division. Launched in Ju...

    Job Swaps    14 August 2015
  • Sirius sold off

    White Mountains Insurance Group has agreed to sell Sirius International Insurance to CM Internationa...

    Job Swaps    13 August 2015
  • Capacity gains

    ILW supply and demand picking up

    The ILS secondary market continues to see price volatility in non-peak risks, but certain peak catas...

    News Analysis    13 August 2015
  • Annual margin results published

    ISDA has released its latest survey on OTC derivatives margin activity, revealing...

    News Round-up    12 August 2015
  • ILS team formed

    Lombard Odier Investment Managers (LOIM) has recruited an ILS team that includes Gregor Gawron, Simo...

    Job Swaps    10 August 2015
  • SCI Start the Week - 10 August

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

    Pipeline Pipeline activity picked up again last week, with significant ABS additions. There were...

    News    10 August 2015
  • Mortgage insurance cat bond closed

    AIG's mortgage insurance business United Guaranty Corp (UGC) has completed a novel ILS that funds US...

    News Round-up    7 August 2015
  • Structured products pair recruited

    Schulte Roth & Zabel has hired Boris Ziser and Thomas Weinberger as partners in the...

    Job Swaps    7 August 2015