ABSTRACT
This chapter provides some context on how insurable life has become the object of financial securitisation in the past three decades. It concentrates in showing how events otherwise considered to be un-insurable have been made insurable by focusing on the parameters around which they can be defined. The chapter shows how current life securitisation strategies operate a shift from the traditional risk-warehousing model of insurance/reinsurance relationships and become a means for hedging risks in the capital markets. It describes with some level of technical detail the particularities of Vita and Kortis, two novel life securitisation strategies developed in the past decade. The chapter discusses the implications of thinking of the production of term time in relation to the debate on the limits of insurability and the implications for thinking the security of the form of life these securitisation schemes are designed to protect.
