HVRRF - Covid-19 Expected To Slow Mortgage ILS Issuance Say Analysts
The rapid growth of mortgage insurance-linked securities ((ILS)) issuance witnessed over the past five years is expected to slow as a result of uncertainty caused by the Covid-19 coronavirus pandemic, according to analysts at Credit Suisse.
Since the introduction of the first deal in 2015, the $298.89 million Bellemeade Re Ltd. (Series 2015-1) transaction from United Guaranty (AIG), mortgage ILS (often termed insurance-linked notes ILN) transactions have grown in both number and size, increasingly contributing to record levels of quarterly and annual ILS issuance.
The Artemis Deal Directory shows that in both 2015 and