Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

19 May 2012

Goldman offers $200mn of Northwind life deal in secondary market

10 March 2010

Goldman Sachs is offering up to $200mn of its holding in Unum Group's $800mn Northwind embedded value life securitisation for sale in the secondary market at an approximate 20 percent discount to par, Trading Risk can reveal.

Goldman, which is believed to own more than 60 percent of the 30-year floating rate notes, is offering a minimum block of $100-200mn for sale in order to gain market-pricing consensus, according to sources.

Indicative pricing for the Northwind notes is around 80...

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