Reinsurance News
8th August 2019
Swiss Re is anticipating that global life insurance premiums will grow by around 3% annually over the next two years, with most of the improvement coming from emerging markets. China in particular is likely to drive premium growth due to a recovery for demand in savings products. Growth in advanced markets, on ... Read the full article
5th August 2019
ReAssure, the closed life book consolidator specialist unit of global reinsurance firm Swiss Re, has agreed an acquisition of a UK £425 million UK closed life insurance business from Quilter plc. The acquisition will add 200,000 customer policies and UK £12 billion of assets to ReAssure's platform and demonstrates Swiss Re's ... Read the full article
10th July 2019
Bermudian reinsurance firm PartnerRe Ltd. has announced the appointment of Chris Shanahan as President of its U.S Life operations, effective July 1, 2019. Shanahan joined PartnerRe in May 2018 as Executive Vice President, Corporate Development, North America Life, where he led the development of strategy for PartnerRe’s U.S life reinsurance business. He ... Read the full article
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
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
17th June 2019
Unless further action is taken, the effects of climate change are likely to have “significant consequences” for life and health re/insurers, who will have to deal with increase risks from heatwaves, floods, droughts, fires and vector-borne diseases. This is according to a new report from Swiss Re, which linked climate change ... Read the full article
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
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
2nd May 2019
Leap Life, an insurtech company backed by RGAX, the transformation unit of Reinsurance Group of America (RGA), has announced the launch of its personalised digital life insurance platform. The platform aims to predict an applicant’s chances of getting approved, using a matching algorithm that optimises need, health and financial fit to ... Read the full article
30th April 2019
Reinsurance Group of America (RGA) increased its net premiums to $2.7 billion in the first-quarter of 2019 when compared with the prior year quarter, as net income jumped to $169.5 million. The global life reinsurer saw its net premiums increase 6% in the quarter, with adverse net foreign currency effects of ... Read the full article
25th April 2019
Growth in the U.S life reinsurance market has been challenged due to limited growth by direct writers, but opportunities have taken shape in emerging markets, particularly in the Asia-Pacific region, according to A.M. Best. Five carriers account for the vast majority of assumed business and continue to dominate the U.S life ... Read the full article
11th April 2019
Aon has named Danny Alexander as its new Head of Life Reinsurance broking for Australia and New Zealand, as the firm looks to strengthen its reinsurance offering in the region. Alexander was most recently working at reinsurer SCOR in Sydney, Australia where he was Head of Client Solutions focused on the ... Read the full article
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
11th March 2019
Reinsurance giant Hannover Re has established a new Bermuda-domiciled Class C reinsurance vehicle named Kubera Insurance (SAC) Ltd., registering the vehicle in October 2018 before receiving a licence for it in December. The Kubera vehicle appears to have been established specifically for Hannover Re's U.S life reinsurance business to enter into ... Read the full article
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
