ILS glossary
What is a Structuring Agent?
The investment bank that designs the cat bond structure, prepares documentation, and manages the placement process.
Definition
Structuring Agent
The investment bank that designs the cat bond structure, prepares documentation, and manages the placement process.
Example
How it works in practice
An investment bank acts as structuring agent for a new cat bond. It works with the cedant to define the covered perils, selects the trigger type, engages the catastrophe modelling firm, sets up the SPV in Bermuda, drafts the offering circular with outside counsel, and organises the roadshow. After pricing, the structuring agent distributes the notes to investors.
Related terms
Related glossary entries
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B
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Calculation AgentILSCat BondILSCatastrophe ModelRisk ModellingCCRIF (Caribbean Catastrophe Risk Insurance Facility)ILSCedantReinsuranceCoCo (Contingent Convertible)CreditCollateralILSCollateralised ReinsuranceILSConditional Expected Loss (CEL)ILSCorrelationILSCouponILSCoupon DeferralCreditCyber Cat BondCyber
D
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ESGILSExhaustion PointILSExpected Loss (EL)ILSExpense LoadILSExposureGeneral InsuranceExtension RiskILS
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IBRD (International Bank for Reconstruction and Development)ILSILW (Industry Loss Warranty)ReinsuranceIndemnity TriggerILSIndustry Loss Index TriggerILS
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M
Mark-to-MarketILSMark-to-ModelILSMaturityILSMEL (Multiple of Expected Loss)ILSModelled Loss TriggerILSMoral HazardGeneral Insurance
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O
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Parametric TriggerILSPCS (Property Claims Services)ILSPeak PerilILSPerilGeneral InsurancePERILS AGILSPremiumGeneral InsuranceProbability of First Loss (PFL)ILSProbable Maximum Loss (PML)Risk ModellingProportional PayoutILS
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RansomwareCyberReg SILSReinsuranceReinsuranceResilience BondILSRetrocessionReinsuranceReturn PeriodRisk ModellingRisk LoadILSRisk-Free RateCreditRoadshowILSRT1 (Restricted Tier 1)CreditRule 144AILS
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SCR (Solvency Capital Requirement)General InsuranceSeasonalityILSSecondary MarketILSSharpe RatioILSSidecarILSSilent CyberCyberSOFRILSSolvency IIGeneral InsuranceSpecial Purpose Vehicle (SPV)ILSSpreadILSStructuring AgentILSSubordinated DebtCreditSupply Chain AttackCyber
T
V
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