Life Insurance Securitization
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Life Insurance Securitization includes a number of techniques to covert life insurance policies or the risks within them to securities. The content of these securitizations includes mortality and longevity risk, the emergence of profit from blocks of business, excess of regulatory over economic reserves, commission financing and life insurance policies themselves ("life settlements").
[edit] History
The first transactions of this type were completed by various commercial banks in the late 1980's. With the advent of Regulation XXX which mandated mortality reserves greatly in excess of those necessary to meet the economic risk of blocks of life insurance policies volumes rose to several billion dollars per annum.
[edit] See also
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