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.

Oceanview Re enters $1bn fixed annuity reserves transaction

24th December 2020

Oceanview Reinsurance Ltd., a recently established life reinsurer based in Bermuda, has entered into a transaction to assume approximately $1 billion of fixed annuity reserves from an A++ rated US life insurer which represents legacy fixed annuity business. The reinsurer is led by President and CEO Alberto Autmezguine, who previously served ... Read the full article

Fitch warns of investment challenges for German life sector

24th December 2020

Fitch Ratings has warned that the German life re/insurance sector is likely to face significant investment challenges once the country emerges from the COVID-19 pandemic, which is set to prolong the ultra-low interest rates that have troubled the country since the 2008 crisis. The rating agency believes that interest rates will ... Read the full article

Resilient profits underpin stable Chinese life outlook: Moody’s

21st December 2020

Moody's Investors Service has assigned a stable outlook to the Chinese life insurance industry for 2021, citing resilient profitability and capitalisation. Large recurring premiums, which reflects the industry's earlier efforts to shift its product focus to long-term regular premium policies, will also improve overall income stability, Moody’s said. And business growth could ... Read the full article

Japanese life premiums suffer but capital remains strong: Moody’s

9th December 2020

According to analysts at Moody’s, disruptions due to the COVID-19 pandemic have significantly impacted new policy sales for the four major Japanese life insurers. However, the rating agency added that core profits among this group remain solid, and capitalisation has also improved but remains vulnerable to market shocks. Overall, in-force business, capital ... Read the full article

Chubb & Nubank launch digital life offering in Brazil

4th December 2020

Global re/insurer Chubb has announced a new digital life offering in Brazil, launched in partnership with digital bank and fintech firm Nubank. The offering, called Nubank Vida, is underwritten by Chubb and will be made available to Nubank’s 30 million customers across Brazil. Basic coverage includes natural or accidental death and funeral ... Read the full article

Fitch stays negative on US life

4th December 2020

Fitch Ratings has maintained its negative outlook on the US life insurance industry for 2021 due to ongoing concerns about the economic fallout from the COVID-19 pandemic. Analysts explained that the economic shock could cause deterioration in key credit metrics over the next one to two years. "Fitch's negative rating outlook for ... Read the full article

Life re/insurers under pressure as COVID-19 mortality estimates rise

12th October 2020

Analysts at Credit Suisse have raised their full-year COVID-19 mortality estimate for the US to 275,000, having previously issued a figure of 210,000 in July. The firm says the significant increase in mortalities due to the pandemic could increase the impact to US life re/insurers. Credit Suisse’s estimates now reflect roughly 80,000 ... Read the full article

Negative outlook for UK life insurance: Moody’s

5th October 2020

Moody's Investors Service has placed a negative outlook on the UK life insurance sector amid concerns that a further decline in gilt yields could increase pressure on solvency levels. A new report by Moody's also noted how the shrinking UK economy is impacting sales of discretionary life insurance product, resulting in ... Read the full article

Moody’s warns of ratings downgrades for life re/insurers

5th October 2020

Moody’s has warned that US life re/insurers face the potential for rating downgrades due to pandemic-related exposures in their fixed income investment portfolios. The rating agency noted that many insurers have significant exposures in consumer sensitive sectors that have been heavily affected by coronavirus related shutdowns and laggard demand. Airlines, restaurants, lodging, ... Read the full article

GIC & MassMutual buy out Blackstone’s stake in Rothesay Life

30th September 2020

Global investment firm GIC and mutual life insurer Massachusetts Mutual Life Insurance Company (MassMutual) have agreed to acquire a 36% shareholding in Rothesay Life from investor Blackstone in a deal valued at £5.75 billion. Under the terms of the transaction, GIC and MassMutual will each become equal 49% shareholders. Blackstone, GIC and ... Read the full article

Empower in $3.3bn acquisition of MassMutual’s retirement plan business

9th September 2020

Empower Retirement is set to acquire the retirement plan business of mutual life insurer MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business will be supported by $1 billion of required capital when combined with Empower’s existing US business. Through ... Read the full article

Monument Re acquires Charles Taylor’s Isle of Man operations

25th August 2020

Life reinsurance and insurance holding company, Monument Re, has reached an agreement to acquire Charles Taylor Group's Isle of Man businesses. The purchase mostly consists of Charles Taylor's life insurance entity, LCL International Life Assurance Company Limited, and Charles Taylor Holdings Limited. Financial terms of the deal were not disclosed and the ... Read the full article

RGA reduces COVID-19 mortality claims estimate by $200mn

12th August 2020

Life reinsurer Reinsurance Group of America, Incorporated (RGA) has decreased its estimate of extra pre-tax mortality claim costs for the COVID-19 pandemic by approximately $200 million. In Q1, RGA provided an illustration of the potential impact of the pandemic on global mortality claims, based on a scenario that included 100,000 deaths ... Read the full article

Pacific Life Re hires Sarah Teehan from SCOR

30th July 2020

Life reinsurer, Pacific Life Re, has announced the appointment of Sarah Teehan as Head of Protection in Europe. Teehan’s appointment comes after James Tait’s move from the beginning of this year from Head of Protection at Pacific Life Re to CEO at UnderwriteMe. Teehan is a qualified Actuary and joins Pacific Life ... Read the full article

Verisk launches Life Risk Navigator software platform

22nd July 2020

Data analytics provider Verisk has announced the release of Life Risk Navigator, a cloud-based stochastic risk modelling platform to inform risk selection, quantify changes in mortality rate, and improve hedging strategies. The analytics provided by Life Risk Navigator are driven by Verisk’s Life Risk Models, a set of probabilistic risk models ... Read the full article