When a company wants to keep an in-force portfolio despite its higher risk profile, securitisation can be the best option, as it provides insurance companies with greater flexibility to manage capital.
We have worked on some of the industry's largest securitisation transactions and have a wealth of global expertise in helping clients to structure securitisations that are optimal for their needs. In this complex and fast-changing field, companies rely on Milliman for insight into current trends.
We assist a wide range of clients with securitisation matters, including insurers, financial institutions, reinsurers, and financial guarantors. We have expertise in the full range of structured finance insurance solutions, including:
• XXX and AXXX transactions – We have advised on most XXX and AXXX securitisation deals to date. Participants rely on our actuarial team for building the precise projections and modelling required to properly assess these complex transactions.
• Embedded value – The need for precise actuarial work in this type of securitisation is critical. Our expertise in embedded value calculations has made us an invaluable source of guidance for embedded-value securitisations.
• Closed block – Our ability to assess the risks involved in a wide range of life insurance products has made us a valued source of guidance for closed-block transactions. We have been involved in all of the major regulatory closed-block securitisations.
• Mortality-catastrophe bonds – We are the leading source of independent advice regarding this securitisation vehicle, having consulted on all of the large industry agreements of this type.