Insurance Linked Securities | KPMG | KY

Insurance Linked Securities

Insurance Linked Securities

Increasing regulation, legislative change and challenging economic conditions create complexity and pressure.

Challenging economic conditions create complexity and pressure.

Are you prepared to respond to a rapidly evolving market? KPMG in the Cayman Islands has brought together an experienced team of structured finance and insurance professionals across our Audit, Tax and Advisory practices to form the Insurance Linked Securities (“ILS”) group. This allows us to obtain a deeper understanding, not only of our client’s business, but also of a client’s individual perspective and strategy. We simplify the issues and focus our efforts on the fundamental drivers and objectives of your business needs.

Our experience 

Our multidisciplinary approach, methodology and team are “field tested”. This has been repeatedly proven by working alongside clients on critical projects.

Audit

  • We audit all Catastrophe Bond structures (‘Catbonds’) licensed, domiciled and administered in the Cayman Islands. 
  • We are the engaged Claims Reviewer to perform agreed upon procedures, for 99 percent of the Indemnity based Catbonds that we are engaged to audit.
  • Our ILS group were the first appointed Claims Reviewers globally to perform claims review agreed upon procedures for a Catastrophe Bond structure that was triggered by a major hurricane event.
  • We audit Alternative Investment vehicles that invest primarily in life settlement contracts, Title XXX Mortality bonds, Catbonds and various other ILS products.
  • Our ILS group has developed, tailored and performed agreed upon procedures for a variety of ILS products.We are the engaged Auditor and Claims Reviewer for many of the industry’s innovative transactions. 

Tax

We prepare Passive Foreign Investment Company (“PFIC”)statements for over 95 percent of Catbonds domiciled in the Cayman Islands. 

Advisory

We are the only professional services firm in the Cayman Islands to employ three full time resident actuaries with over 20 years of relevant actuarial experience in hedge fund asset valuation, whereby the underlying assets are life settlement contracts or other forms of ILS. Additionally, we perform valuation assurance servicesfor ILS Funds that have investments in Catastrophe Swaps and Industry Loss Warranties.

 

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Our services

 
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