Reinsurance News
annuities
European insurers to increase private credit allocations, according to Moody’s
18th June 2025
Moody’s Ratings, a provider of credit ratings, research, and risk analysis, expects European insurers to significantly increase their exposure to private credit investments in the coming years. As of 2024, these assets accounted for approximately 13% of total insurer investment portfolios, based on Moody’s broad definition of private credit, which includes ... Read the full article
UK bulk annuity market in 2024 sees 83% of deals under £100m, Aon reports
14th November 2024
Aon, a professional services firm providing a range of risk, retirement, and health solutions, recently released a report on the UK risk settlement market, shedding light on significant trends and strategic shifts affecting the bulk annuity sector, especially in transactions under £100 million. The report indicates a surge in smaller transactions, ... Read the full article
Brighthouse Financial completes transaction to reinsure its fixed and payout annuities
11th November 2024
Brighthouse Financial, Inc., the US-domiciled annuities and life insurance provider, has completed a reinsurance transaction with a third party to reinsure a legacy block of its fixed and payout annuities. The transaction was previously discussed on the company’s earnings call for the quarter ended September 30, 2024, during which it revealed ... Read the full article
Japan’s life insurance sector revives while China faces yield challenges: Swiss Re
15th July 2024
Japan's life insurance industry is seeing a resurgence as the economy overcomes its "lost decades," according to a recent report by global reinsurer Swiss Re. In contrast, China's life insurers are now dealing with the same "negative spread" problem. Since 2020, investment yields in China's life insurance sector have fallen by ... Read the full article
Karl Canty joins Capco as new partner in US insurance practice
24th June 2024
Capco, the technology and management consultancy, has named Karl Canty as a new partner in its US insurance practice, located in Hartford, CT. Canty will focus on strengthening client relationships, boosting sales, and providing value to insurers, especially to Capco’s prominent Life & Annuities clients. Matthew Hutchins, Partner and Global Head of ... Read the full article
F&G Annuities & Life names John Currier as President
14th May 2024
F&G Annuities & Life, Inc. (F&G), has appointed John Currier as President, where he will maintain his reporting line to CEO Chris Blunt while overseeing the Retail Markets business unit alongside his new role. Before becoming President of F&G, Currier held the role of President of Retail Markets starting in February ... Read the full article
US P/C replacement costs expected to outpace inflation by 2026: Triple-I report
14th May 2024
According to the latest Insurance Economics Outlook from the Insurance Information Institute (Triple-I), property/casualty replacement costs in the US are currently rising more slowly than overall inflation and are expected to maintain this trend for the next two years. Although the deceleration in cost increases may offer temporary relief for insurance ... Read the full article
Aspida partners with Flourish for enhanced annuity distribution
13th March 2024
Aspida Life Insurance Company (Aspida), a life insurance and annuity company, has recently partnered with Flourish, a financial products provider, to distribute the Aspida Advisory Multi-Year Guaranteed Annuity (MYGA). The Aspida Advisory MYGA offers a secure investment solution with guaranteed growth, unaffected by market fluctuations. This single premium deferred fixed multi-year ... Read the full article
Venerable Holdings to recapture annuity blocks from Athene
1st June 2023
Venerable Holdings, a provider of risk transfer solutions to variable annuity issuers, is to recapture approximately $2.8 billion of payout annuity reserves from Athene. In a recent announcement, Venerable stated it has agreed for its wholly-owned subsidiary Venerable Insurance and Annuity Company (VIAC), to recapture the annuity blocks from the retirement ... Read the full article
Benefits & risks to US life dependence on Bermuda reinsurance, says ALIRT
25th October 2022
According to an ALIRT Insurance Research report, there are both benefits and risks to US Life insurers' growing dependence on Bermuda reinsurance, adding the nexus is likely poised to grow. The use of Bermuda reinsurance has grown significantly over the last five years, says ALIRT, becoming a core strategy for many ... Read the full article
Athene takes on $500mn in pension obligations from Alcoa
15th December 2021
Athene has been transferred approximately $500 million in pension obligations and related assets from Alcoa Corporation. The transfer involves two subsidiaries of Athene and is intended to complement a prior annuitisation announced last month for certain US pension plans. That action, which is now complete, included approximately $1 billion of pension obligations ... Read the full article
Prudential to sell $31bn PALAC block of legacy variable annuities to Fortitude Re
15th September 2021
Prudential Financial has agreed to sell a portion of its in-force legacy variable annuity block to Fortitude Re for a total transaction value of $2.2 billion. Under the terms of the agreement, Prudential will sell one of its stand-alone legal entity subsidiaries, Prudential Annuities Life Assurance Corporation (PALAC), including PALAC’s in-force ... Read the full article
Venerable reaches $12bn annuity reinsurance agreement with Equitable
28th October 2020
Venerable Holdings has agreed to reinsure $12 billion of legacy variable annuity business from Equitable Financial Life Insurance Company. As part of the transaction, Venerable will also acquire Corporate Solutions Life Reinsurance Company, a Delaware domiciled variable annuity reinsurance company that has been in run-off since 2002. Overall, the deal will more ... Read the full article
Athene closes $6 billion in total pension risk transfer deals in 2019
6th January 2020
Athene Holding Ltd. has announced that it successfully closed approximately $6 billion in total pension risk transfer transactions for 2019, which includes the firm's inaugural transaction in the UK market. Approximately $800 million, or more than 13% of the total volume of pension risk transfer deals completed by Athene in 2019 ... Read the full article
AM Best holds US life/annuity market outlook at stable
20th December 2019
AM Best has maintained its stable market outlook for the US life/annuity (L/A) industry in 2020, citing strong capitalisation and improved liquidity among carriers, along with a manageable regulatory environment. The rating agency also highlighted companies’ measured approach to increasing investment risk as a positive factor in its stable outlook. US L/A ... Read the full article
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