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Reinsurance News
28th May 2020
European insurance giants Allianz and Generali could be preparing to sell billions of euros of life insurance assets in order to free up capital amid the COVID-19 pandemic, according to reports from Bloomberg. Sources told the publication that Allianz has been working with Morgan Stanley to divest as much as €9 ... Read the full article
21st May 2020
L&G Re, the global reinsurance arm of L&G, has experienced rapid growth in recent years, and the life reinsurer’s increased focus on advanced technology points to continued expansion for the company and the wider pension risk transfer (PRT) market, according to Chief Executive Officer (CEO), Thomas Olunloyo. In an interview with ... Read the full article
13th May 2020
RGAX, a subsidiary of Reinsurance Group of America, Incorporated (RGA), has partnered with insurtech firm Socotra to help develop new life insurance products. Using Socotra as its policy administration system, RGAX will look to develop new products for its subsidiary, Greenhouse Life Insurance (Greenhouse Life). RGAX first partnered with Socotra in 2017 ... Read the full article
29th April 2020
The US life and health industry achieved 12.6% growth in net income for 2019, finishing the year at $45.6 billion, according to analysts at AM Best. According to a new report from the rating agency, the life/annuity industry’s total income for 2019 increased by 3.0% to $872.3 billion compared with the ... Read the full article
7th April 2020
AM Best has revised its outlook for the life insurance markets in France, Italy and the UK to negative, due to concerns about the financial and economic headwinds caused by the coronavirus (COVID-19) pandemic. In France, the rating agency noted that technical margins have already been under pressure for a number ... Read the full article
1st April 2020
Analysts at S&P Global Ratings believe the North American life re/insurance industry is well-positioned to handle the immediate impact of the coronavirus (COVID-19) pandemic, despite significant escalation for certain risks. In particular, life insurers will face higher asset risk, S&P said, as well as equity market volatility, near-zero interest rates, and ... Read the full article
17th March 2020
Fitch Ratings has revised its rating outlook for the US life insurance industry from stable to negative, due to increased concerns about the coronavirus outbreak and its potential impacts on the credit quality of life insurers. Analysts explained that the outlook revision reflected greater uncertainties about disruptions in the financial markets, ... Read the full article
10th March 2020
AM Best has assigned a stable outlook to Japan’s life insurance industry, citing solid mortality/morbidity profits, a steady investment yield, and strong capitalisation. The rating agency noted that Japan’s life insurance segment grew by 2.9% in 2019 in terms of annualised premiums from policies in force. Core profit similarly increased to JPY ... Read the full article
4th March 2020
Re/insurance service provider Xceedance has announced the launch of its life insurance and reinsurance practice, headquartered in its newly established office in Liechtenstein. Xceedance's new Liechtenstein office has been established to serve life insurance and reinsurance markets and will be jointly led by Markus Brugger and Mark Lucas. The new practice will ... Read the full article
18th February 2020
Analysts at Fitch Ratings have said that the largest European reinsurers – Munich Re, Swiss Re, Hannover Re, and SCOR – benefit from a competitive advantage thanks to their leading positions in the life and health markets. Fitch noted that the life and health reinsurance market is characterised by an oligopolistic ... Read the full article
17th February 2020
The reinsurance arm of Arch Capital Group, Arch Reinsurance (Arch Re), has announced that it plans to obtain a majority stake in Precision Marketing Asia Pacific (PMAP). PMAP is an Australian company that provides marketing solutions to banks, insurance companies, retailers and health care organisations across the Asia Pacific region. The transaction ... Read the full article
20th December 2019
AM Best has maintained its stable market outlook for the US life/annuity (L/A) industry in 2020, citing strong capitalisation and improved liquidity among carriers, along with a manageable regulatory environment. The rating agency also highlighted companies’ measured approach to increasing investment risk as a positive factor in its stable outlook. US L/A ... Read the full article
12th December 2019
Moody’s Investors Service has assigned a stable outlook to the global life insurance sector in 2020, despite concerns about the adverse impact of low interest rates on profitability and solvency. Analysts believe the industry is supported by solid regulatory capital and relatively conservative investment portfolios, and has made efforts to adapt ... Read the full article
11th December 2019
Moody’s has assigned a stable outlook for Japan’s life insurers in 2020, as core profits and capital stay strong despite low interest rates. Analysts explained that the life sector is supported by strong and stable underwriting margins that will continue over the next 12-18 months. Capital is also expected to be supported ... Read the full article
6th December 2019
Swiss Re has finally found its exit point from its UK closed life book consolidator business, ReAssure, agreeing to sell the ReAssure Group plc business to the largest pensions and life consolidation specialist in Europe, Phoenix Group Holdings plc in a deal worth UK £3.25bn. Swiss Re has been seeking to ... Read the full article
