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 manager poaches marketing director

  Adam Maloney has joined Elementum Advisors as director of marketing and investor relations. He will...

  Job Swaps    24 March 2015

• SCI Start the Week - 23 March

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

  Pipeline The pipeline saw a variety of deals added last week, including four ILS. There were also f...

  News    23 March 2015

• ILS budget boost examined

  The UK Chancellor George Osborne's plan to make the country an international hub for ILS (SCI 19 Mar...

  News Round-up    23 March 2015

• IG rating for Kizuna cat bond

  S&P has preliminarily assigned its first investment grade rating - of triple-B min...

  News Round-up    20 March 2015

• ILS gets Budget boost

  In its 2015 Budget, the UK government announced that it will work with the industry and regulators t...

  News Round-up    19 March 2015

• SCI Start the Week - 16 March

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

  Pipeline The pipeline saw a mix of new entrants last week. Of the newly-announced deals, six ABS, f...

  News    16 March 2015

• ILS unit strengthened

  Credit Suisse Asset Management (CSAM) has appointed David Grill to help explore methods for expansio...

  Job Swaps    13 March 2015

• Rising tide

  Cat bond trading eyed ahead of hurricane season

  The ILS market benefitted from a relatively strong January, driven by customary early-year adjustmen...

  News Analysis    11 March 2015

• Pension risk transfer head named

  Prudential Retirement has appointed Scott Kaplan as head of its pension risk transfer team. He will...

  Job Swaps    10 March 2015

• Fast-track ILS framework introduced

  The Isle of Man Insurance and Pensions Authority has introduced a regulatory framework for insurance...

  News Round-up    10 March 2015

• SCI Start the Week - 9 March

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

  Pipeline Deals stayed in the pipeline a little longer last week. At Friday's end there were 10 new...

  News    9 March 2015

• ILS exec moves

  Maria Rapin has joined Nephila Advisors as business development director. In the role, she will focu...

  Job Swaps    4 March 2015

• Reinsurance merger finalised

  RenaissanceRe has completed the acquisition of Platinum Underwriters, making the firm a wholly owned...

  Job Swaps    3 March 2015

• SCI Start the Week - 2 March

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

  Pipeline Many of last week's pipeline additions priced briskly, leaving only a short list of new ad...

  News    2 March 2015

• ILS pro hired

  Securis Investment Partners has hired Stephen Lister to work in its operations team in London. Liste...

  Job Swaps    27 February 2015

• Willis expands to Australia

  John Philipsz, md at Willis Capital Markets & Advisory (WCMA), has relocated from London to...

  Job Swaps    26 February 2015

• ILS exec hired

  CGSC North America has hired William Ludington as evp for carrier management and alternative markets...

  Job Swaps    24 February 2015

• SCI Start the Week - 23 February

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

  PipelineSeveral new deals have been announced in the wake of the recent conference. Last week there...

  News    23 February 2015

• ILS valuations firm founded

  Former AIG Americas chief risk officer Kevin Huang has founded a firm specialising in risk analysis...

  Job Swaps    17 February 2015

• Entropics fund operational

  SEF Entropics Cat Bond Fund is now open to subscriptions, becoming the first fund specialised in cat...

  Job Swaps    16 February 2015

• SCI Start the Week - 16 February

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

  Pipeline It was an understandably quiet week for the pipeline as market participants attended the a...

  News    16 February 2015