(This article appears courtesy of International Financial Law Review, sign up for a free trial here)
Changes in regulatory reserve requirements for life insurers have spawned one of the largest, fastest growing segments of the securitization market. In the last three years, more than $6 billion in securitizations of life insurance regulatory reserves have been brought to the capital markets by both life insurers and reinsurers. These transactions are commonly referred to as Regulation XXX, or Triple X, securitizations.
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