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.
Talcott completes $7bn reinsurance deal with Guardian
2nd November 2022
International life insurance group Talcott Financial has announced the completion of a transaction with The Guardian Life Insurance Company of America to reinsure $7.4 billion in variable annuity liabilities. First announced last month, the deal was conducted between subsidiaries Talcott Resolution Life Insurance Company and The Guardian Insurance & Annuity ... Read the full article
Howden Re sets up new L&H reinsurance division, names leaders
24th October 2022
Howden RE, the reinsurance arm of international insurance intermediary, Howden Group, has announced the establishment of a new Disability, Life & Health Reinsurance division. Richard Vuurman, Theo Lutgendorff and Thomas Trompert have been appointed to set up and lead the new division, effective 1 October 2022. Based in the Netherlands and reporting ... Read the full article
UK life insurers remain resilient despite market turbulence: AM Best
12th October 2022
A new report from AM Best states that the balance sheets of UK life insurers have proved resilient through a period of market turbulence in financial markets due to the sharp and rapid rise in yields on UK gilts towards the end of September 2022. Sharp moves in yields have placed ... Read the full article
Liquidity buffers limit impact of collateral calls on UK insurers: Moody’s
3rd October 2022
Analysts at Moody’s have assured that large UK life insurers using swaps to hedge their interest rate exposure should be able to absorb the cash collateral requirements within their liquidity buffers, following the sharp fall in UK government bond prices and Bank of England interventions. Yields on 30-year gilts peaked at ... Read the full article
European Life Consolidation activity improves after slow start to 2022: Fitch
21st September 2022
According to a report by Fitch Ratings, European life consolidation activity picked up following a slow start to 2022 with four acquisitions announced within less than two months. Of the deals announced, two were in Germany, with one each in the UK and Netherlands. This brings the year-to-date volume by liabilities ... Read the full article
L/A & health reinsurers remain well capitalised despite elevated mortality: AM Best
11th September 2022
According to AM Best, companies within the global life/annuity and health reinsurance segments are adopting different approaches as they react to elevated mortality trends; however, these reinsurers have remained well capitalized throughout the pandemic. The report suggests life and health reinsurers’ earnings in 2021 suffered from adverse mortality trends, though the ... Read the full article
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
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