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.


  • 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
  • Longevity swap facility created

    Artex Risk Solutions has partnered with PwC to create a new facility that provides pension funds wit...

    News Round-up    13 February 2015
  • Innovative ILS programme launched

    Kane SAC has listed its new ILS note programme on the Bermuda Stock Exchange. The programme has been...

    News Round-up    13 February 2015
  • Tokio beefs up

    Tokio Solution Management has added Susan Lane as svp and head of business development and client se...

    Job Swaps    10 February 2015
  • SCI Start the Week - 9 February

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

    PipelineA variety of deals joined the pipeline last week, with proposed issuance from the US, UK, Eu...

    News    9 February 2015
  • Cat bond innovation expected

    A flurry of activity in 4Q14 resulted in record 144A P&C catastrophe bond issuance that exce...

    News Round-up    5 February 2015
  • 'Banner year' for BSX

    Bermuda has been the domicile of choice for 57% of ILS issued during 2014, according to the Bermuda...

    Job Swaps    30 January 2015
  • Reinsurance merger agreed

    AXIS Capital and PartnerRe are set to merge, following unanimous approval by both companies' boards...

    Job Swaps    26 January 2015
  • SCI Start the Week - 26 January

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

    Pipeline A number of the deals which joined the pipeline last week then went on to price before the...

    News    26 January 2015
  • BMS president promoted

    BMS Capital Advisory has named Andrew Bustillo, president and ceo of BMS Intermediaries, as a princi...

    Job Swaps    21 January 2015