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 team reinforced

    SCOR Investment Partners has recruited Sidney Rostan and Pierre Mouilhade as portfolio managers for...

    Job Swaps    24 July 2015
  • Business development pro poached

    Mt Logan RE has hired Chris Caponigro as head of business development. He joins from Platin...

    Job Swaps    22 July 2015
  • PartnerRe opens EXOR talks

    PartnerRe has responded to a revised proposal from EXOR offering a special dividend of US$3 per comm...

    Job Swaps    22 July 2015
  • EXOR offer increased again

    EXOR is offering PartnerRe common shareholders a pre-closing dividend of US$3 per...

    Job Swaps    21 July 2015
  • Axis amends PartnerRe terms

    AXIS Capital and PartnerRe have agreed to enhanced merger terms, providing common shareholders with...

    Job Swaps    20 July 2015
  • SCI Start the Week - 20 July

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

    PipelinePipeline activity continued to normalise last week. There were eight ABS, five RMBS and five...

    News    20 July 2015
  • European head appointed

    Willis Group has appointed Brian Shea as head of Europe for Willis Capital Markets & Advisor...

    Job Swaps    16 July 2015
  • PartnerRe meeting pushed back

    PartnerRe and AXIS Capital have moved back their joint special meeting of respective shareholders fr...

    Job Swaps    13 July 2015
  • SCI Start the Week - 13 July

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

    Pipeline A number of deals joined the pipeline last week. These were largely ABS and CLOs, although...

    News    13 July 2015
  • Innovation inspiring ILS positivity

    Innovation continues apace within ILS, with the asset class remaining well placed given its low corr...

    News Round-up    10 July 2015
  • Sandell blasts PartnerRe board

    Sandell Asset Management has issued a public letter to the PartnerRe board and its chairman Jean-Pau...

    News Round-up    10 July 2015
  • EXOR sweetens offer

    EXOR held an investor meeting yesterday for PartnerRe shareholders, in which chairman and ceo of EXO...

    Job Swaps    8 July 2015
  • EXOR makes PartnerRe plea

    EXOR has sent an open letter to all PartnerRe employees who are shareholders, urging them to vote th...

    Job Swaps    7 July 2015
  • SCI Start the Week - 6 July

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

    Pricings While there were no additions to the pipeline last week, new issuance was dominated by CLO...

    News    6 July 2015
  • EXOR modifications dismissed

    PartnerRe says that the limited modifications to EXOR's revised offer do not address the "fundamenta...

    Job Swaps    1 July 2015
  • Capital markets partner named

    TigerRisk Partners has appointed Jarad Madea as partner with TigerRisk Capital Markets & Adv...

    Job Swaps    1 July 2015
  • Insurance merger agreed

    Willis Group and Towers Watson have signed a definitive merger agreement under which the companies w...

    Job Swaps    30 June 2015
  • ILS upgraded on final reset

    S&P has raised its rating on the US$250m Everglades Re Series 2013-1 notes to single-B plus...

    News Round-up    25 June 2015
  • EXOR 'material risks' outlined

    PartnerRe has made available additional shareholder information relating to what it describes as the...

    Job Swaps    23 June 2015
  • Business development team bolstered

    Leadenhall Capital Partners has appointed Edward Johnson to its business development team, reporting...

    Job Swaps    23 June 2015
  • SCI Start the Week - 15 June

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

    Pipeline It was another busy week for the pipeline. There were nine new ABS added - inclu...

    News    15 June 2015