Life Insurance Česká Pojišťovna, part of Generali PPF Holding, is offering its clients the Czech retail market's first credit default product.
Five-year unit-linked life insurance Investiční životní pojištění Výnos Plus invests into structured notes issued by KBC IFIMA. The note, linked to the credit risk of Gazprom and VTB Bank, offers 120% capital return at maturity, if both companies remain solvent during the investment period. Otherwise, a redemption amount is paid according to the market value of the underlying debt.
All assets are placed into a fund, 10 Zajištěný fond kvalifikovaných investorů otevřený podílový fond, which is managed by ČP Invest Investment Company.
The product is available until the end of June.
The product is available on the Czech database.