Reinsurance News
life insurance
Life insurance and reinsurance news and analysis can be found below. The life insurance and reinsurance sector remains a key component in providing life, annuity, accident, health and benefits related insurance and reinsurance products.
SiriusPoint eyeing Canadian life with PolicyMe investment
21st December 2021
Global specialty re/insurer SiriusPoint has strategically invested in PolicyMe, a digital life insurer focused on Canadian individual term life policies. PolicyMe aims to modernise and improve the process of buying life insurance by leveraging automation and a streamlined customer experience. SiriusPoint’s strategic investment will be used to help support product development. The transaction ... Read the full article
Sale of German life back book would be positive for Zurich: Berenberg
17th December 2021
The potential sale of global insurer Zurich's German life back book would be positive for the company as it would lower capital allocated to capital intensive traditional life business and potentially result in buybacks, reports Berenberg. Citing reports this morning from Versicherungsmonitor, analysts at Berenberg have discussed the potential sale of ... Read the full article
Insurtech Goosehead expanding into life following ETHOS deal
9th December 2021
Goosehead, a technology independent carrier, has announced its entrance into the life insurance space through a strategic alliance with Ethos Life. Through Goosehead’s Digital Agent Platform, clients can now access coverage online without blood tests or medical exams. This partnership is seen as a way to eliminate traditional barriers and underscore Goosehead’s ... Read the full article
Life and P&C insurers to accelerate automation use over the next five years
5th August 2021
A new survey by Willis Towers Watson suggests global life and property and casualty (P&C) insurers want to improve the efficiency and auditability of their processes and close the gap between their current use of automation and where they aspire to be in five years. The survey quesrtioned life and P&C ... Read the full article
YuLife raises $70mn in Series B funding round
14th July 2021
Life insurer YuLife has raised $70 million (£50 million) in a Series B funding round led by Target Global. The round was also supported by new investors Eurazeo and Latitude as well as existing investors Creandum, Notion Capital, Anthemis, MMC Ventures, and OurCrowd. The insurer will use the capital to develop new ... Read the full article
US midsize mutual life insurers supported by higher levels of capital: Fitch Ratings
29th June 2021
The ratings for the midsize mutual peer group have continued to be supported by higher levels of capital relative to the broader life industry, reflecting the unique characteristics of mutual ownership, according to Fitch Ratings’ latest peer review of the sector. Compared with stock companies, these mutual insurers generally have a ... Read the full article
Fitch revises US life to negative off COVID-19 concerns
21st May 2021
Fitch Ratings has revised its rating outlook for the US life insurance industry to stable from negative, citing the economic impact of COVID-19 and its effect on credit quality . Analysts note how that, when uncertainty about the implications of the coronavirus pandemic peaked in 2020, almost 30% of ratings assigned ... Read the full article
Resolution Life sees commitments hit $5bn following latest capital raise
14th May 2021
Resolution Life has raised an additional $1.6 billion of capital which will be used to support its growth strategy via the acquisition and reinsurance of life insurance portfolios. This latest capital raise means that since its launch in September of 2018, Resolution Life has now secured commitments of roughly $5 billion. Investors ... Read the full article
SCOR collaborates with Covr Financial & Americo on life solution
20th January 2021
Global re/insurer SCOR, Covr Financial Technologies and Americo Financial Life and Annuity Insurance Company have launched LoanMatch Protector, a life insurance policy customised to a consumer's specific loan amortisation schedule. This new policy can be accessed by customers of banks, credit unions, lenders, e-banks and direct lenders through Covr's industry-leading, white-labeled ... Read the full article
Life insurers seeking new solutions to build on performance: WTW
4th December 2020
New research from re/insurance broker Willis Tower Watson (WTW) reveals that life insurers are seeking new solutions in order to build on their business performance whilst boosting customer relations in an already highly competitive market. WTW surveyed 39 life insurers, including major multinationals, based in nine countries from across Europe. It showed ... Read the full article
Insurtech Ladder expands reinsurance relationships with PartnerRe alliance
27th October 2020
Bermuda-based reinsurance company, PartnerRe, has entered into a new partnership with life insurance focused insurtech, Ladder. Ladder was established in 2015 and offers technology-driven insurance solutions designed to meet the demands of today’s consumers. By focusing on speed, ease, and affordability, the company looks to reinvent life insurance to be both ... Read the full article
Insurtech Integrity Life secures $43mn in series B round
6th October 2020
Australian insurtech startup Integrity Life has announced a $43 million series B round of funding, raised before and during the COVID-19 pandemic. The majority of the capital came from institutional funds managed by Schroder Investment Management (Switzerland) AG, with support from existing institutional shareholders Leadenhall Capital Partners and Daido Life, and ... Read the full article
Utilising new tech key for life insurers post COVID-19: Moody’s
11th September 2020
Analysts at Moody’s Investors Service believe it will be the technologically advanced life insurers that will likely come out of the COVID-19 pandemic on top in terms of sales, revenue, and profit growth. Moody’s Vice President Laura Bazer says those with rigid product and business models could end up falling behind ... Read the full article
Empower in $3.3bn acquisition of MassMutual’s retirement plan business
9th September 2020
Empower Retirement is set to acquire the retirement plan business of mutual life insurer MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business will be supported by $1 billion of required capital when combined with Empower’s existing US business. Through ... Read the full article
Expansion of partnership between Aegon and Santander finalised
31st July 2020
In 2018, Aegon and Banco Santander agreed to expand their life and non‑life insurance partnership, following Banco Santander’s acquisition of Banco Popular. After two years, Aegon has announced that this expansion has been completed. Aegon’s joint ventures with Santander in Spain completed the acquisition of the in force term life policies previously ... Read the full article
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