Reinsurance News
Life reinsurance news
Life reinsurance industry news, analysis and insights.
The life reinsurance market is a core piece of the sector and life risks, from mortality, to longevity, annuity risk, and more, are a key diversifier for the large global reinsurance carriers, while there are also numerous large specialist life and annuity reinsurers in the sector as well.
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.
Interest rates to pressure European life earnings through 2021: Fitch
27th April 2021
Analysts at Fitch Ratings have forecast that European life re/insurers’ earnings will be under pressure through 2021, due to the protracted low interest rate environment. As a result of these low interest rates, investment margins will be reduced, making it difficult for insurers to finance policyholders’ liability with capital guarantees, the ... Read the full article
Life reinsurers remain profitable despite COVID: Fitch
26th April 2021
Analysts at Fitch have reported that the world’s largest life and health reinsurers remained profitable in 2020, as heightened mortality losses from the coronavirus pandemic have only moderately impacted the segment so far. Fitch expects mortality claims related to the pandemic to decline in 2021 for Hannover Rueck SE, Munich Reinsurance ... Read the full article
US life & annuity still faces challenges, says AM Best
17th March 2021
Analysts at AM Best have warned that the US life and annuity (L/A) sector still faces significant challenges despite weathering the COVID-19 pandemic so far. The rating agency noted that most US L/A companies remain well capitalised and have benefited from favorable mortality and morbidity experience, low credit impairments and rebounding ... Read the full article
Pacific Life Re strikes partnership with ThaiRe Life
22nd February 2021
Pacific Life Re and ThaiRe Life Assurance PCL have announced the formation of a new partnership to provide sustainable life reinsurance solutions to Thailand-based life insurance operators. The collaboration is expected to bring Pacific Life Re’s technical and product development expertise together with ThaiRe Life’s insights and standing in the local ... Read the full article
Monument Re finalises portfolio transfer from Omega Life
12th February 2021
Life reinsurance and insurance holding company Monument Re has completed a portfolio transfer from Omega Life. The Omega Life book was transferred into the Italian Branch of Monument Assurance Luxembourg S.A at the end of December 2020, Monument Re explained. Omega Life is an Ireland-domiciled life assurance company that has been closed ... Read the full article
Lemonade launches life insurance using Bestow platform
10th February 2021
Insurtech firm Lemonade has announced that it will power its recently launched life insurance offering with the Protect API platform from Bestow, a digital life insurance company. Using Bestow’s platform, Lemonade customers can apply for instant insurance online using Lemonade’s website and apps. Customers are underwritten in real-time, using third-party data to ... Read the full article
National Western Life enters into annuity reinsurance transaction with Prosperity
19th January 2021
National Western Life Insurance Company (NWLIC), part of National Western Life Group, Inc., has completed an annuity reinsurance transaction with Bermuda domiciled reinsurer, Prosperity Life Assurance Limited, effective December 31st, 2020. Prosperity, which is rated A- (Excellent) by A.M. Best, is an emerging provider of bespoke and innovative reinsurance solutions to ... Read the full article
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
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