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Reinsurance News

Life reinsurance news

Top eight reinsurers account for 90% of global life premiums: S&P

31st August 2018

The top eight global life reinsurers dominate the industry and account for around 90% of total premiums, making it difficult for new entrants to quickly enter the market and establish themselves, according to a recent report by S&P Global Ratings. The report said that such a scale of competitive advantage would ... Read the full article

Global life reinsurance industry set for stable short-term growth: S&P

24th August 2018

The global life reinsurance industry is expected to experience stable premium growth of about 3% per year and a return on equity of just above 10% from 2018 to 2020, according to a new report by S&P Global Ratings. S&P observed that the global life reinsurance industry weathered 2017’s unusually high ... Read the full article

LTCG administers Wilton Re & CNO reinsurance transaction

17th August 2018

Wilton Re has selected long-term care specialist, LTCG, to administer the 70,000 policies and approximated 8,000 active claims included in its August 1 long-term care insurance indemnity reinsurance agreement with CNO Financial Group subsidiary, Bankers Life and Casualty Company. LTCG will offer a complete processing solution which includes policy administration, care ... Read the full article

Ethos enters partnership with Munich Re and Assurity Life

30th July 2018

Ethos, the specialty wholesale life insurance broker, has announced that it is partnering with Munich Re on the provision of reinsurance services, and is working with Assurity Life Insurance, a mutual insurance organisation, as its underwriting partner. The partnerships will enable Ethos to better deliver its digital life insurance solutions to ... Read the full article

Athene resolves investigation with New York State regulator

2nd July 2018

Athene Holding Ltd. has announced that Athene Life Insurance Company of New York (ALICNY) and First Allmerica Financial Life Insurance Company (FAFLIC), a subsidiary of Global Atlantic Financial Group, have agreed to a $55 million consent order with the New York State Department of Financial Services (NYSDFS). The agreement resolves the ... Read the full article

Pacific Life Re partners with Australian insurance consultancy NEOS Life

28th June 2018

Pacific Life Re Australia has become the partner reinsurer to NEOS Life, a life insurance consultancy service and new market entrant, in order to create smarter application processes for both advisors and customers in the Australian market. NEOS Life has also chosen Pacific Life Re’s joint underwriting venture, UnderwriteMe, as its ... Read the full article

Hannover Re U.S reinsures OneAmerica’s Asset Care LTC business

27th June 2018

Hannover Life Reassurance Company of America (Hannover Re U.S), a subsidiary of global reinsurer Hannover Re Group, has entered into a reinsurance agreement with OneAmerica related to the Asset Care long-term care (LTC) business written by its subsidiary, The State Life Insurance Company. Asset Care refers to a combination of whole ... Read the full article

Athene responds to notice from California Department of Insurance

15th June 2018

Athene Holding has responded to a regulatory notice from the California Department of Insurance (CDI) that has proposed fines and the temporary closure of its subsidiary, Athene Annuity and Life Company, for allegedly failing to meet California service standards for around 50,000 life insurance policies. The CDI said that, since 2016, ... Read the full article

U.S. life insurers to continue shedding legacy business throughout 2018, Moody’s

11th June 2018

A new report by Moody’s Investors Service has shown that legacy blocks of annuity, life, and employee benefits business are set to be further divested by life insurers in the U.S. with a desire to focus on value optimisation amid modestly favourable economic and market fundamentals. Moody's Vice President Laura Bazer ... Read the full article

Re/insurance industry set to grow faster than global economy: Munich Re

29th May 2018

The rate of growth of the global re/insurance industry is set to overtake the global economy in 2018 and 2019, with average annual premium growth forecast at 5.3%, compared with global GDP growth of 4.9%, according to Munich Re’s latest Insurance Market Outlook. Munich Re reported that life insurance is set ... Read the full article

Munich Re sets up $330m Bermuda entity for group life reinsurance

14th May 2018

Global reinsurance giant Munich Re has set up an entity in Bermuda which is going to act as a reinsurance vehicle for certain of the group's life reinsurance risks. Munich Re of Bermuda, Ltd. has been established to take on life risks from across the Munich Re group, acting as an ... Read the full article

Positive 2017 market results for U.S Individual Disability, reports Gen Re

10th May 2018

Gen Re has reported overall positive 2017 results trends for the U.S Individual Disability market, with total in-force premium up 2.3% on average, and total sales premiums increasing by 9.1%. The company’s annual U.S. Individual Disability Market Survey looks at results from 15 participating companies and offers insight and analysis on ... Read the full article

RGA to invest in Getsurance via its innovation accelerator, RGAx

8th May 2018

U.S. domiciled life reinsurer, Reinsurance Group of America (RGA) is investing in InsurTech Getsurance through its innovation accelerator subsidiary, RGAx. RGA announced in 2017 that it had entered into a partnership with Getsurance, backing its digital life insurance solution designed to protect individuals with long-term disabilities against the loss of income due to illness ... Read the full article

SCOR promotes Redmond Murphy to CEO of Global Life Reinsurance Ireland

4th May 2018

SCOR has announced the appointment of Redmond Murphy as Chief Executive Officer (CEO) of SCOR Global Life Reinsurance Ireland (SGLRI). Murphy will now be responsible for leading the SGLRI entity and driving the strategic direction of the business, as well as managing all the activities of the local team, including finance, ... Read the full article

Protective completes $1.2bn reinsurance deal with Liberty Life

2nd May 2018

Protective Life Corporation, a wholly owned U.S subsidiary of Dai-ichi Life Holdings, Inc., has announced that it has successfully completed the acquisition of all the individual life and annuity business of Liberty Life Assurance Company of Boston (Liberty Life) in a reinsurance deal valued at $1.2 billion. Protective entered the ... Read the full article

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