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.
Retirement security bills may drive opportunities for life/annuity players: A.M. Best
24th July 2019
The SECURE Act, which is currently with the U.S. Senate after being passed in the U.S. House of Representatives, is expected to create additional market opportunities for the retirement and employee benefits segments of the U.S. life space, according to A.M. Best. The Setting Every Community Up for Retirement Enhancement Act ... Read the full article
AIG Life & Retirements appoints CEOs for Individual & Group units
2nd July 2019
AIG Life & Retirement, a division of AIG, has promoted Todd Solash as Chief Executive Officer (CEO) of its Individual Retirement business, and Rob Scheinerman as CEO of AIG Retirement Services, its Group Retirement business. The appointments of Solash and Scheinerman, who were each previously President of their respective units, follow ... Read the full article
RGA subsidiary in $2.9 billion annuity reinsurance deal with Horace Mann
25th June 2019
A subsidiary of global life reinsurer, Reinsurance Group of America (RGA) has completed a $2.9 billion annuity reinsurance transaction with Horace Mann Life Insurance Company, a subsidiary of Horace Mann Educators Corporation. Under the transaction, effective April 1st, 2019 RGA's subsidiary will reinsure a seasoned block of U.S. annuity business and ... Read the full article
U.S life/annuity market posts 25% drop in pre-tax earnings for 2018: A.M. Best
19th June 2019
The majority of U.S life/annuity companies posted favourable operating results in 2018, according to A.M. Best, but statutory pre-tax operating gains declined by 25%, the largest drop in five years. The rating agency observed that pre-tax operating earnings for the sector declined from $63.7 billion in 2017 to $47.8 billion in ... Read the full article
New tech enables L&H re/insurers to improve risk selection: Tony Laudato, Hannover Re
10th June 2019
The growing influence of advanced technology is enabling life and health insurers and reinsurers to improve the efficiency and robustness of the risk selection process, according to Tony Laudato, a Vice President (VP) at reinsurance giant Hannover Re. The rise of technology and its increased focus on the risk transfer industry ... Read the full article
Moody’s remains stable on Korean life sector despite slip in demand
31st May 2019
Moody’s Investors Services has maintained its stable outlook on the Korean life insurance sector, citing an improved product mix and stable capitalisation. These factors are balanced against a decline in demand, driven by the product shift together with subdued economic growth. Upcoming changes to the local risk-based capital (RBC) system are also ... Read the full article
Need to adapt is testing L&H re/insurers’ reluctance to change, says Hannover Re’s Tony Laudato
23rd May 2019
The historical reluctance of life and health (L&H) re/insurers to change is starting to shift as boards and senior management increasingly understand the necessity of adapting and embracing new technological advances, says Tony Laudato, a Vice President at Hannover Re. “Life insurance companies are very reluctant to change, a lot of ... Read the full article
Record year for bulk annuities likely as demand remains high: Fitch
26th April 2019
UK life insurers writing bulk purchase annuities (BPAs) continue to benefit from a strong demand that will likely result in 2019 surpassing 2018’s £24 billion in bulk annuity transactions, according to Fitch Ratings’ report on UK life insurance. Indeed, Willis Towers Watson recently expected 2019 to show further strong growth ... Read the full article
Chubb handed permission to set up Myanmar life insurance subsidiary
9th April 2019
Global insurer Chubb has been revealed as one of the five foreign firms handed permission by the government of Myanmar to establish a 100% owned life insurance subsidiary within its borders. Other insurers given the green light include Japan’s Dai-ichi Life Insurance, Manufacturers Life Insurance Company Canada, AIA, and Prudential Hong ... Read the full article
A.M. Best stable on UK life sector, expects strong near term growth opportunities
3rd April 2019
International financial services ratings agency, A.M. Best, has a stable outlook on the UK life insurance sector, and is expecting a focus on annuities and defined contribution pensions to drive strong near-to-medium-term growth opportunities. Key products in the UK life insurance industry are experiencing healthy growth and profitability, but A.M. Best ... Read the full article
No-deal Brexit may reduce UK life insurers’ capital and profits: Moody’s
2nd April 2019
Moody’s Investors Service expects UK life insurers to experience reduced capital and profits in the event of a no-deal Brexit scenario, as well as more limited growth prospects. The rating agency considers UK life players as particularly exposed to a no-deal outcome given their high asset leverage, their significant exposure to ... Read the full article
Protective to reinsure Great-West Life’s individual life & annuity business
24th January 2019
Subsidiaries of Protective Life Corporation (Protective) are set to acquire, via reinsurance, substantially all of the individual life insurance and annuity business of Great-West Life & Annuity Insurance Company (GWL&A). The agreement sees Protective subsidiaries, Protective Life Insurance Company, and Protective Life & Annuity Insurance Company, acquire the business through reinsurance, ... Read the full article
China’s interest rate reforms to support life re/insurers: Swiss Re
22nd January 2019
Reforms to China’s interest rate regime are expected to help kick-start the savings-based life insurance products segment in the country and support the development of re/insurers’ asset management capabilities, according to a report from Swiss Re Institute. Analysts predict that China’s current two-track interest rate system will become uniform by the ... Read the full article
KBRA stable on U.S life as industry approaches slowdown
4th January 2019
Kroll Bond Rating Agency (KBRA) has maintained a stable outlook for the U.S life re/insurance industry despite signs that the market may be approaching a slowdown in profitability. In recent years, KBRA suggested that the macroeconomic environment has generally been supportive of the U.S life industry, while rising rates have offset ... Read the full article
U.S. life re/insurance 2019 outlook stable amid benign credit conditions
29th November 2018
The fundamental sector outlook for U.S life re/insurers in 2019 is stable, with continued benign credit conditions, reduced pressure from low interest rates and strong balance sheet metrics supportive of ratings expectations, Fitch Ratings says. However, Fitch's stable sector outlook remains vulnerable to a big market shock, which it views as ... Read the full article
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