Bank & Insurance Hybrid Capital

Financial institutions are bringing a new generation of hybrid instruments to market in the wake of the financial crisis and Bank+Insurance Hybrid Capital brings you coverage of this burgeoning asset class.

Surfing in crest of wave

The fleshing out of Basel III and, in the EU, CRD IV have been the catalyst for banks to approach the markets to strengthen and optimise their capital structures, resulting in a boom in issuance. In parallel, insurance companies are making the transition to Solvency II, resulting in an evolution of the instruments they are bringing to market.

The wave of supply from banks that gradually built in 2013 and then hit the market in 2014 showed investors to be open to Additional Tier 1 as well as Tier 2 CoCos, with new issues characterised by multi-billion order books. However, bouts of volatility as the time has progressed have raised question marks about the depth and breadth of the investor base.

Bank+Insurance Hybrid Capital was launched in early 2014 as the first publication dedicated to this asset class and, in association with our partners at Crédit Agricole CIB, we will bring you regular updates on how the market is coping with the evolving environment. You can read all the coverage right here on our website or download the latest issues of our magazine.

We look forward to accompanying you through the latest developments in this exciting asset class. Enjoy the ride!