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$825m ING collateral deal reopens XXX market
12 January 2010
An $825m collateral transaction for ING Insurance has reopened the Regulation XXX securitisation market.
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An $825m collateral transaction for ING Insurance has reopened the Regulation XXX securitisation market. Regulation XXX requires life companies to hold reserves for term life insurance well above levels deemed appropriate by actuaries and rating agencies.
The deal is part of Bermudian structuring and management firm Karson Management’s Karson Collateral Program. Karson Capital, will provide collateral for international insurance and reinsurance companies, Lloyd's corporate members and other corporations to support their regulatory and credit security requirements.
The XXX transaction market has been quiet for a while. The previous life XXX securitisation transaction was issued by River Lake Insurance and sponsored by GE Financial...
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