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Life reinsurance news

Low interest rates hit French life sector solvency: Moody’s

16th October 2019

French life re/insurers’ Solvency II ratios declined during the first nine month of 2019 as falling interest rates signalled pressure on future profits, according to Moody’s Investors Service. Interest rates have fallen significantly in 2019, causing some large French life insurers’ Solvency II ratios declined between 15 and 23 percentage points ... Read the full article

Agam Capital sets up joint life venture with investment firm Värde Partners

9th October 2019

Agam Capital, a New Jersey-based insurance solutions provider, has announced plans to form a joint life and retirement venture with alternative investment firm Värde Partners. The parties said they have entered an agreement to pursue the acquisition, reinsurance and management of life and retirement businesses globally. The venture will price and manage ... Read the full article

Life segment still a “source of stability” for reinsurance market: AM Best

1st October 2019

The life reinsurance segment continues to function as a “source of stability” for the overall global reinsurance market, according to AM Best, who looked at the state of the sector in a recent report. The rating agency noted that the life reinsurance market continues to be dominated by just five large ... Read the full article

Time to challenge the traditional life reinsurance paradigm, says GC’s David Rains

13th September 2019

David Rains, Managing Director at Guy Carpenter (GC), has argued that "the time has come to challenge the traditional life reinsurance paradigm" and elevate solutions for volatility management to the enterprise level. According to Rains, purchasing reinsurance protection at the corporate level could avoid the issue of overpaying for unneeded risk ... Read the full article

Sirius Group names Florian Boecker as Head of Life Reinsurance

10th September 2019

Sirius Group, the global multi-line re/insurer, has announced the appointment of Florian Boecker to the newly created role of Head of Life Reinsurance. Boecker most recently served as Chief Solutions Officer for Life & Health at PartnerRe, based in Zurich. He has more than two decades of experience as an actuary and ... Read the full article

Slight fall in earned premiums for life, health reinsurers in H1 2019: Fitch

29th August 2019

Analysts at Fitch Ratings say that, for life and health reinsurers overall, net premiums earned declined slightly in the first half of 2019, although five of the eight companies monitored by the firm reported higher net premiums earned. Meanwhile, pre-tax income for life and health reinsurance business decreased somewhat in 1H19 ... Read the full article

U.S. life/annuity sector’s total income down slightly in H1 2019: A.M. Best

28th August 2019

Analysis from A.M. Best shows that total income in the U.S. life/annuity industry fell slightly in the first-half of 2019 to $422.4 billion, as a $26 billion decline in other income offset a $24.9 billion increase in premiums and annuity considerations. A.M. Best's analysis is derived from companies' first-half 2019 interim ... Read the full article

Aon forms Accident, Health & Life practice group for reinsurance business

27th August 2019

Re/insurance broker Aon has created a global Accident, Health & Life practice group in its Reinsurance Solutions business to help insurers take advantage of growth opportunities in the sector. The group will be chaired by Roger Smith, who was previously Head of Accident, Health & Life for EMEA in Aon’s Reinsurance ... Read the full article

Modest shift in asset allocation for US Life Insurers in 2018: Fitch

21st August 2019

US life insurers in 2018 continued to shift towards less liquid asset classes in search for yield, according to Fitch Ratings analysts. Insurers are believed to have increased allocation to commercial mortgage loans and collateralised loan obligations (CLO) over the year in order to mitigate the impact of a protracted low ... Read the full article

Swiss Re expects global life premiums to grow by 3% in next two years

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

Swiss Re’s ReAssure buying £425m closed life book business from Quilter

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

PartnerRe names Chris Shanahan as President of U.S Life operations

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

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

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

Climate action needed to limit fallout for life re/insurers: Swiss Re

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

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