{"id":49870,"date":"2018-12-26T10:48:00","date_gmt":"2018-12-26T15:48:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49870"},"modified":"2025-08-28T10:50:07","modified_gmt":"2025-08-28T14:50:07","slug":"deemed-maturity-date-for-insurance-issues-changed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49870","title":{"rendered":"&#8216;Deemed Maturity&#8217; Date for Insurance Issues Changed"},"content":{"rendered":"<p>Well, I&#8217;ve been threatening to do it for a long, long time and now it&#8217;s finally happened: the DeemedMaturity date for insurance issues has been changed from 2025-1-31 to 2030-1-31.<\/p>\n<p>For a review of why I believe that insurance issues will be redeemed at par on or prior to the DeemedMaturity date, please see the <a href=\"https:\/\/prefblog.com\/?p=34667\">DeemedRetractible Review: September, 2016<\/a> and don&#8217;t forget to read the updates.<\/p>\n<p>The new date has been chosen with the idea that a decision will be made by the IAIS (International Association of Insurance Supervisors) in 2019, and (if favourable) will be implemented with an 11-year grace period, similarly to the banks. We shall see just how accurate these suppositions might be!<\/p>\n<p>This change has, of course, led to an increase in the calculated Modified Duration and a decrease in the calculated Yield-to-Worst for these issues. Old and new figures for these metrics may be found at:<\/p>\n<p><a href=\"https:\/\/prefblog.com\/wp-content\/uploads\/2018\/12\/J11_Mat2025.pdf\">Deemed Retractibles, 2018-12-24, maturity 2025<\/a><\/p>\n<p><a href=\"https:\/\/prefblog.com\/wp-content\/uploads\/2018\/12\/J11_Mat2030.pdf\">Deemed Retractibles, 2018-12-24, maturity 2030<\/a><\/p>\n<p><a href=\"https:\/\/prefblog.com\/wp-content\/uploads\/2018\/12\/J15_Mat2025.pdf\">FixedResets, 2018-12-24, maturity 2025<\/a><\/p>\n<p><a href=\"https:\/\/prefblog.com\/wp-content\/uploads\/2018\/12\/J15_Mat2030.pdf\">FixedResets, 2018-12-24, maturity 2030<\/a><\/p>\n<p>Affected issues are:<\/p>\n<p>FixedResets EML.PR.A, GWO.PR.N, IAG.PR.G, IAG.PR.I, IFC.PR.A, IFC.PR.C, IFC.PR.G, MFC.PR.F, MFC.PR.G, MFC.PR.H, MFC.PR.I, MFC.PR.J, MFC.PR.K, MFC.PR.L, MFC.PR.M, MFC.PR.N, MFC.PR.O, MFC.PR.Q, MFC.PR.R, SLF.PR.G, SLF.PR.H, SLF.PR.I<\/p>\n<p>FloatingReset GWO.PR.O, IFC.PR.D, MFC.PR.P, SLF.PR.J and SLF.PR.K<\/p>\n<p>DeemedRetractibles CCS.PR.C, GWO.PR.F, GWO.PR.G, GWO.PR.H, GWO.PR.I, GWO.PR.L, GWO.PR.M, GWO.PR.P, GWO.PR.Q, GWO.PR.R, GWO.PR.S, GWO.PR.T, IAG.PR.A, IFC.PR.E, IFC.PR.F, MFC.PR.B, MFC.PR.C, SLF.PR.A, SLF.PR.B, SLF.PR.C, SLF.PR.D, SLF.PR.E<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, I&#8217;ve been threatening to do it for a long, long time and now it&#8217;s finally happened: the DeemedMaturity date for insurance issues has been changed from 2025-1-31 to 2030-1-31. For a review of why &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,13],"tags":[],"class_list":["post-49870","post","type-post","status-publish","format-standard","hentry","category-data-fixes","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49870"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49870\/revisions"}],"predecessor-version":[{"id":49871,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49870\/revisions\/49871"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}