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

19 May 2012

MetLife in $350mn Credit Agricole A-XXX deal

8 April 2011

Investment bank Credit Agricole has completed a $350mn, 10-year structured letter of credit deal providing MetLife with capital relief on its life insurance reserves.

The deal relates to A/XXX regulatory reserves for a book of term life and universal life policies written by two MetLife affiliates domiciled in New York.

As Trading Risk has previously reported, Credit Agricole has completed $825mn of publicly known (A)XXX deals in 2010-2011, after two transactions last year for Aviva and the Mutual of Omaha...

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