Belgium’s second largest insurer, Ethias, has adopted Nomura’s Flexis structure in the first deal of its kind in the local retail insurance market. The Lift Security 12/2009 structure features a bankruptcy-remote special purpose vehicle as the issuer, which uses Belgian government bonds as collateral.
Ethias had conducted a so-called beauty parade for a product that it could buy as a hedge against the insurance contracts it was selling to its clients. The capital is guaranteed by Belgian governm
The week on Risk.net, July 7-13, 2018Receive this by email