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.
Australian life sector looks to reinsurance to ease pressure: Guy Carpenter
19th November 2018
The life insurance sector in Australia and New Zealand is increasingly looking to reinsurance as a strategic capital management tool to alleviate the pressure from regulatory requirements, shareholders, and foreign investment, according to a report from reinsurance broker Guy Carpenter. Matthew Rose, Managing Director at Guy Carpenter, noted that the underlying ... Read the full article
Munich Re backed insurtech Ethos raises $35mn in funding
31st October 2018
Ethos, a life insurtech start-up backed by Munich Re and Assurity Life, has raised an additional $35 million in funding from a Series B financing round, led by venture capital firm Accel. Additional investors included Google Ventures (GV), previous investors Sequoia Capital and Arrive, a subsidiary of Roc Nation, and a ... Read the full article
U.S life insurers to experience long-term care reserves charges: Fitch
29th October 2018
Fitch Ratings believes that life insurers in the U.S are likely to experience material reserve charges related to long-term care (LTC) products through 2019 due to overly aggressive assumptions for statutory reserving. A report by the rating agency noted that statutory reserving across the industry continues to be based on overly ... Read the full article
Hannover Re US develops new event policies with Life By Spot start-up
1st October 2018
Hannover Life Reassurance Company of America (Hannover Re US) has partnered with Life By Spot, a direct-to-consumer insurance start-up, to develop a new category of life insurance for short-duration events. The policies will offer cover to ‘adventure-loving clients’ in the U.S market for periods ranging from 24 hours to 30 days, ... Read the full article
U.S. life insurers experience improved profitability in 2018: Fitch
27th September 2018
Approximately two-thirds of publicly traded life insurers in the U.S. rated by Fitch improved profitability in the first-half of 2018, and while higher interest rates will mitigate spread compression, the rating agency warns that this will remain a headwind in the second half of the year. For the U.S. life insurers ... Read the full article
John Hancock doubles down on wearable-tech with Vitality partnership
20th September 2018
John Hancock, one of the oldest U.S life insurers, is to drop its previous business model and pair all existing policies with the tech-driven Vitality platform. Moving forward, John Hancock Vitality will utilise wearable technology to incentivise healthier choices linked to physical activity, nutrition and mindfulness. "For centuries, the insurance model has ... Read the full article
Western & Southern to purchase Nestlé’s Gerber Life business for $1.55bn
20th September 2018
Nestlé has revealed that it has entered an agreement to sell its Gerber Life Insurance Company to U.S life insurance and financial services provider Western & Southern Financial Group for US $1.55 billion in cash. Gerber Life is a juvenile and family life insurance provider with statutory capital and surplus of ... Read the full article
Suncorp to sell Australian life insurance business for $725mn
10th August 2018
As part of its FY18 results, Suncorp has announced that it has entered into a non-binding Heads of Agreement to sell its Australian life insurance business to TAL Dai-ichi Life Australia for approximately $725 million. As part of the proposed transaction, Suncorp will enter into a 20-year strategic alliance agreement with ... Read the full article
Outlook for German life re/insurance remains negative, P&C stable: Moody’s
10th August 2018
The outlook for the German life re/insurance industry remains negative due to a combination of low interest rates and high guaranteed returns attached to past policies, while modest price increases have helped the property and casualty (P&C) sector stay stable, according to Moody’s Investors Service. Moody’s recognised the relatively strong economic ... Read the full article
Ethos enters partnership with Munich Re and Assurity Life
30th July 2018
Ethos, the specialty wholesale life insurance broker, has announced that it is partnering with Munich Re on the provision of reinsurance services, and is working with Assurity Life Insurance, a mutual insurance organisation, as its underwriting partner. The partnerships will enable Ethos to better deliver its digital life insurance solutions to ... Read the full article
Japan’s life insurers offer answers to global peers in era of low interest rates: Moody’s
25th July 2018
In an era of perennially low interest rates life insurers should look to Japan, where the industry has remained largely profitable despite facing consistently low rates for over two decades, Moody’s says. The report states that Japanese life insurers have adjusted to perpetually low rates by developing highly-effective liability management strategies. Major ... Read the full article
Generali sells German life insurance unit to Viridium Group
5th July 2018
Italian insurance giant Generali Group has announced the sale of its German life insurance unit Generali Leben to consolidation platform Viridium Group in a deal valued at up to €1 billion, with total estimated cash-in up to approximately €1.9 billion. The announcement follows reports last year of Generali looking to offload ... Read the full article
Athene resolves investigation with New York State regulator
2nd July 2018
Athene Holding Ltd. has announced that Athene Life Insurance Company of New York (ALICNY) and First Allmerica Financial Life Insurance Company (FAFLIC), a subsidiary of Global Atlantic Financial Group, have agreed to a $55 million consent order with the New York State Department of Financial Services (NYSDFS). The agreement resolves the ... Read the full article
Pacific Life Re partners with Australian insurance consultancy NEOS Life
28th June 2018
Pacific Life Re Australia has become the partner reinsurer to NEOS Life, a life insurance consultancy service and new market entrant, in order to create smarter application processes for both advisors and customers in the Australian market. NEOS Life has also chosen Pacific Life Re’s joint underwriting venture, UnderwriteMe, as its ... Read the full article
Hannover Re U.S reinsures OneAmerica’s Asset Care LTC business
27th June 2018
Hannover Life Reassurance Company of America (Hannover Re U.S), a subsidiary of global reinsurer Hannover Re Group, has entered into a reinsurance agreement with OneAmerica related to the Asset Care long-term care (LTC) business written by its subsidiary, The State Life Insurance Company. Asset Care refers to a combination of whole ... Read the full article
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