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Life reinsurance news

Life reinsurance industry news, analysis and insights.

Our life reinsurance market news stories cover happenings in the life reinsurance industry, people moves, new company launches, life reinsurance company results, product innovation and more.

Phoenix Group completes four BPA transactions

13th January 2022

Life consolidator Phoenix Group has completed four Bulk Purchase Annuity (BPA) transactions during the second half of 2021, covering £4.0 billion of premiums. These transactions also comprised of £3.6 billion of external deals and a further £0.4 billion tranche of the group's Pearl Pension Scheme. This equates to total BPA premiums of ... Read the full article

Martello Re launched as $1.65bn life and annuity reinsurer

12th January 2022

A new Bermuda domiciled life and annuity reinsurance company has been launched with the backing of Massachusetts Mutual Life Insurance Company, Centerbridge Partners, Brown Brothers Harriman, and a pre-eminent group of institutional investors and family offices, including Hudson Structured Capital Management, called Martello Re Limited. Martello Re is a licensed Class ... Read the full article

Zurich frees $1.2bn of capital with sale of $9.5bn Italian life & pensions back book

3rd January 2022

Global insurer Zurich Insurance Group announced this morning that it is freeing up roughly US $1.2 billion of capital through the sale of its legacy Italian life and pensions book of policies. Zurich said that its subsidiary Zurich Investments Life S.p.A. is selling its life and pension back book, which includes ... Read the full article

Life insurers to see return pressure, manageable losses in 2022: Fitch

17th December 2021

Analysts at Fitch Ratings have warned that sustained low interest rates, the increased role of alternative investment managers and accounting changes will have long-term credit implications for the life insurance industry. The rating agency says pressure on financial performance of legacy in-force business from low interest rates is not expected to ... Read the full article

Spread dependence efforts support stable life outlook: Moody’s

15th December 2021

Analysts at Moody's have reported that insurers’ ongoing efforts to reduce spread dependence are behind its decision to maintain a stable outlook on the global life insurerance industry, and are likely to support capital and profitability going forward. Efforts to optimise business mix have also been aided by economic recoveries in ... Read the full article

Reale Vida partners with Munich Re on digital life underwriting

25th November 2021

Reale Vida, the Reale Group's Spanish insurer, has partnered with Munich Re to implement automated underwriting across its life insurance operations in Spain. The solution is based on Munich Re’s ALLFINANZ Spark digital new business technology and takes advantage of the reinsurer’s global life underwriting experience and knowledge of the Spanish ... Read the full article

Gen Re supports launch of new Chinese life insurance product

31st August 2021

Gen Re, the global reinsurance subsidiary of Berkshire Hathaway, has backed the launch of a new life insurance product by Fanhua Inc. in China. The product, which is also backed by Dingcheng Life Insurance Co., Ltd, is a customized whole-life insurance solution that targets at mid-and-high net worth individuals, and is ... Read the full article

Balance Re raises $10m in Series A funding

20th August 2021

Life reinsurance startup with a focus on quantitative asset-liability management, Balance Re, has raised $10 million in Series A funding from investor Anthemis Group, with participation from Global Brain and existing investors, Roland Berger Industries GmbH and Talabot Finance. The company's new shareholders, Anthemis and Global Brain, bring extensive knowledge of ... Read the full article

Hannover Re US incorporates ExamOne data into underwriting platform

19th August 2021

Hannover Life Reassurance Company of America (Hannover Re US) has announced a collaboration with ExamOne, a Quest Diagnostics Company, to incorporate ExamOne’s innovative LabPiQture data into hr | ReFlex, Hannover Re’s automated underwriting solution for life insurers. The integration will allow hr | ReFlex clients to automate the use of LabPiQture’s ... Read the full article

KKR’s Global Atlantic seals $4.8bn whole life reinsurance deal with AXA

13th July 2021

Global Atlantic Financial Group, the majority-owned subsidiary of investment giant KKR, has announced the completion of a $4.8 billion whole life reinsurance deal with China-focused units of AXA Group. It's the first block reinsurance transaction sourced from outside of the United States by Global Atlantic, as the company continues to expand ... Read the full article

India life industry premiums to hit $98.5bn in 2024: GlobalData

12th July 2021

The life insurance industry in India is projected to grow from INR 5.7 trillion (US $81.4bn) in 2019 to INR 8.0 trillion ($98.5bn) in 2024, in terms of gross written premium (GWP), according to analysts at GlobalData. GlobalData, which has revised its India forecasts in the aftermath of COVID, believes that ... Read the full article

Moody’s turns stable on UK life sector

8th July 2021

Moody’s has decided to change its outlook on the UK life insurance sector to stable from negative, one year after the coronavirus pandemic resulted in a shift to negative The rating agency notes that the sector’s operating profit and capitalisation were resilient in 2020, and are expected to remain robust over ... Read the full article

No question you’ll see more life reinsurers in Bermuda: Brad Adderley, Appleby

2nd July 2021

While the emergence of property and casualty (P&C) startups in Bermuda is likely to be muted in the months ahead, the influx of life reinsurers is expected to continue and will only strengthen the Bermuda marketplace, according to Brad Adderley, Partner at global law firm Appleby. An expectation of significant rate ... Read the full article

Moody’s turns stable on global life sector

16th June 2021

Moody’s Investors Service has changed its outlook for the global life insurance sector to stable from negative, based on expectations for near-term growth prospects and a more favourable operating environment. The outlook revision follows a change to stable outlook for US life insurers and Japanese life insurers. Despite sustained low interest rates, ... Read the full article

“Exciting time” for Global Atlantic as clients seek post-pandemic optimization: Manu Sareen

15th June 2021

It is an “exciting time” in the life and annuity market as the challenges posed by the COVID-19 pandemic and prolonged low interest environment have created new opportunities for reinsurance players such as Global Atlantic. This is according to Manu Sareen, President for Institutional Markets at Global Atlantic and CEO of ... Read the full article

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