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Reinsurance News

Life reinsurance news

Moody’s upgrades outlook to stable for UK life re/insurers

28th June 2017

Moody's Investors Service has changed the outlook for the UK insurance and reinsurance life industry from negative to stable to include predictions of an expected "moderate and manageable" Brexit impact, in a report released recently. Dominic Simpson, Vice President Senior Credit Officer at Moody's, said the stable outlook is primarily a reflection ... Read the full article

SCOR Global Life Australia hires chief underwriter & chief medical officer

22nd June 2017

SCOR Global Life Australia has appointed Debra Pitcher as chief underwriter and Dr John Cummins as chief medical officer as it builds its team to expand local operations, the Financial Standard reported. Pitcher will assume responsibility for the Australia and New Zealand life reinsurance underwriting strategy and focus on developing client solutions. She ... Read the full article

AMP reported near to life reinsurance deal with China Life, Munich Re, Hannover Re, others

21st June 2017

According to a report in the Australian media, financial services firm AMP is nearing completion of another reinsurance transaction to free up capital, with China Life, Munich Re and Hannover Re all named as potential parties to the deal. The Australian Financial Review (AFR) reports that AMP may be ... Read the full article

Hannover Re US names Nico van Zyl AVP, Medical Director

6th June 2017

Germany-based reinsurance giant Hannover Re's subsidiary, Hannover Life Reassurance Company of America (Hannover Re US), has appointed Nico van Zyl Assistant Vice President (AVP), Medical Director, effective January 1st, 2017. Nico van Zyl joined the reinsurer's U.S. division from Hannover Re's South African branch, where he held the role of Chief Medical ... Read the full article

U.S. Life & Health sector net income up 73.5% in Q1 2017: A.M. Best

1st June 2017

The U.S. Life/Health (L/H) insurance and reinsurance industry recorded net income of $7.7 billion in the first-quarter of 2017 compared with $4.5 billion a year earlier, representing growth of 73.5%, according to analysis from global rating agency A.M. Best. The analysis includes data from companies that make up an estimated 84% ... Read the full article

Underwriters see opioids as mortality threat, only 53% test for use: Munich Re

30th May 2017

A recent survey by reinsurance giant Munich Re shows that over 90% of underwriters are worried about the impact opioid addiction will have on mortality and, perhaps surprisingly, just 53% of surveyed life insurance companies actually test for opioids. The survey included responses from 126 life insurance professionals and was conducted at the Association ... Read the full article

Scottish Re to wind up, sell assets

24th May 2017

Life reinsurance and annuities specialist Scottish Re Group, which has been in run-off since 2008, has announced that it is to voluntarily wind up and that it may look to sell off some of its key assets. Scottish Re began voluntary provisional winding up proceedings in Bermuda (where the reinsurance group ... Read the full article

Gen Re hires William Casill (ex-AXA Equitable) as new Chief Actuary

22nd May 2017

Gen Re, the Berkshire Hathaway owned specialist reinsurance company, has hired William (Bill) Casill, FSA, as Senior Vice President and Chief Actuary of its North American life and health business. Casill was most recently with AXA Equitable, where he held the role of Head of Reinsurance and Corporate Chief Underwriter. In his ... Read the full article

Speed of execution key in Zurich annuity reinsurance deal: RGA

19th May 2017

The speed with which Reinsurance Group of America helped Zurich Insurance Group subsidiary Farmers Farmers New World Life to the recent $2.3 billion annuity reinsurance transaction was key and demonstrates the reinsurers ability, it said today. Yesterday we reported on the completion of the $2.3 billion annuity reinsurance transaction, ... Read the full article

Zurich unit in $2.3bn annuity reinsurance deal with RGA Re

18th May 2017

A subsidiary of Zurich Insurance Group has entered into a $2.3 billion reinsurance arrangement on a closed book of annuities with Reinsurance Group of America. The recently announced transaction saw Farmers New World Life, a subsidiary of Zurich, enter into an agreement with Reinsurance Group of America to reinsure a portion ... Read the full article

Global Atlantic appoints life insurance veteran Barnett as Head of Sales

20th April 2017

Global Atlantic Financial Group, a leading U.S.-focused retirement life re/insurer, has appointed Sam Barnett as new Head of Sales for its life insurance segment. Barnett - an industry veteran boasting over 20 years of life insurance experience - will be responsible for reshaping and executing the firm's life insurance sales strategies. David ... Read the full article

Strong growth for UK group life market: Swiss Re

12th April 2017

The latest Group Watch report from reinsurance giant Swiss Re shows solid growth in the UK group life market, with 520,000 newly covered members in 2016, taking the number of people covered by Group life schemes to beyond 12 million. "This year's results paint a very positive picture at a difficult ... Read the full article

Opportunity for reinsurers to assist life sector transformation: Berenberg

5th April 2017

As well as an opportunity to support life insurers' increasing capital needs, life reinsurance market players can also assist with the technological transformation of the industry, according to analysts at Berenberg. The growing risk of disruption from regulatory changes and digitalisation, combined with technological advances sweeping through many parts of the ... Read the full article

PartnerRe completes acquisition of life reinsurer Aurigen

4th April 2017

PartnerRe has announced the completion of its acquisition of life reinsurance company, Aurigen Capital Limited. Aurigen’s core business has been the reinsurance of life insurance policies of North American residents, and since 2013, mortality risk solutions in the U.S. Aurigen is a top-five life reinsurer in Canada based on recurring new reinsurance ... Read the full article

SCOR approved to open Japanese life & health reinsurance branch

3rd April 2017

French headquartered global reinsurance player SCOR has received approval to open a Japanese branch office for life and health reinsurance operations under its SCOR Global Life SE brand. The Financial Services Agency of Japan (FSA) has approved SCOR Global Life SE's application to open a branch office in Tokyo as of ... Read the full article

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