Reinsurance News
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.
Zurich to sell German legacy traditional life book to Viridium
24th June 2022
Zurich Insurance Group has agreed to sell its legacy traditional life insurance back book in Germany to Viridium Holding AG, a specialist in the management of life insurance portfolios in the country. The transaction includes the transfer of $20 billion of net reserves, mainly related to annuity and endowment products underwritten ... Read the full article
Japanese life profits to remain stable through 2023: Fitch
15th June 2022
Analysts at Fitch Ratings believe that the profitability of the nine traditional nine Japanese life insurers is likely to be stable in the financial year ending 2023. The rating agency notes that underwriting results for this group in FYE22 were moderately worse than in FYE21, due mainly to the Covid-19 health ... Read the full article
RGA seeing greater demand for life reinsurance since pandemic
18th May 2022
Anna Manning, President and CEO of Reinsurance Group of America (RGA), has said that her company has seen higher demand for its life reinsurance service since the outbreak of the COVID-19 pandemic two years ago. Speaking as part of an earnings call alongside the release of RGA’s Q1 results, Manning was ... Read the full article
Life reinsurance carriers well capitalised despite COVID-19: AM Best
6th April 2022
In its latest market segment report, global ratings agency AM Best has said that life reinsurance carriers remain well capitalised withstanding pressures surrounding COVID-19. The report states that COVID-related life claims emerged much later for global life reinsurers, than it did for non-life reinsurers, with claims surging in late 2020 and ... Read the full article
Munich Re names Head of L&H for Spain and Portugal
2nd March 2022
Munich Re has announced the appointment of Daniel Rodríguez as its new Head of Life & Health Business in Spain and Portugal. He will take over the leadership of the Business Development and Client Relations team. Rodríguez joined Munich Re in 2015, and has developed different roles across the region not only ... Read the full article
Fortitude Re in talks over annuity reinsurance deal with Taiyo Life
14th February 2022
Fortitude Re is among the reinsurers in talks with Taiyo Life Insurance Company, a subsidiary of Japanese insurer T&D Holdings, regarding a potential annuity reinsurance deal. Taiyo Life wants to offload its inforce individual annuity business in order to reduce its investment risk and to enhance its future profitability and capital ... Read the full article
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
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