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.

RGA agrees to sell its Dutch life insurer to De Goudse

7th July 2020

Life reinsurer, Reinsurance Group of America, Incorporated (RGA) has reached an agreement to sell its Dutch life insurance firm, Leidsche Verzekering Maatschappij N.V. (Leidsche), to De Goudse N.V., an all-round insurer. Terms of the transaction have not been disclosed and the deal remains subject to approval of the Competition Authority, De ... Read the full article

Prosperity Life acquires closed-book businesses from National Guardian Life

11th June 2020

National Guardian Life Insurance Company (NGL) has announced an agreement to sell certain closed-block businesses to Prosperity Life Assurance Limited (Prosperity Life). The businesses in question have combined net statutory reserves of approximately $400 million and consist of life, annuity and A&H lines. “This reinsurance transaction with NGL launches Prosperity Life Assurance ... Read the full article

Japanese life insurers see core profits weaken over 2019: Moody’s

10th June 2020

The four major Japanese life insurers reported a 5.8% decline in their combined core profits over the fiscal year 2019, according to analysts at Moody’s. The rating agency attributed the decrease to a revision in mortality table, and warned that capital and profitability remain at risk in the current environment. The four ... Read the full article

Allianz & Generali eyeing life asset divestment: reports

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

Innovative tech & new markets suggest continued growth for L&G Re: CEO, Olunloyo

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

RGAX partners with insurtech Socotra to develop life products

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

US life/health industry achieves 13% income growth: AM Best

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

AM Best turns negative on France, Italy & UK life markets

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

Life re/insurers well positioned to handle COVID-19 risks: S&P

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

Fitch turns negative on US life due to virus concerns

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

AM Best stable on Japanese life industry

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

Xceedance unveils life re/insurance practice, new Liechtenstein office

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

Life business a competitive boost for European reinsurers: Fitch

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

Arch Re eyes Asia Pacific growth with PMAP acquisition

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

AM Best holds US life/annuity market outlook at stable

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