|
|
Article: Capital Markets: Team Of The Month - Barcap's Zest For Success - Barclays Capital's Rare GBP250m Value In-force Deal For Aegon Scottish Equitable Proved There Is A Growing Appetite For Securitisations Among Insurers.
- Article from:
- The Banker
- Article date:
- September 1, 2008
CopyrightCOPYRIGHT 2008 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: EDWARD RUSSELL-WALLING
Securitisations aren't exactly all the rage with investors right now, for obvious reasons. But occasionally a rare issue shines a light into surviving pockets of appetite and suggests a way forward for certain issuers. Such was Zest, Aegon Scottish Equitable's recent GBP250m ($466m) value in-force (VIF) life securitisation, masterminded by Barclays Capital's insurance capital markets team.
Even before the debt capital markets soured, there had been relatively few VIF life securitisations, largely because insurance companies enjoyed cheaper and easier access to capital via other routes, such as hybrid securities. But those ...