Life reinsurance
-
The ILS manager claims that 777 Partners “double-pledged” collateral.
-
The fund is a continuation vehicle for five of HSCM's life insurance interests.
-
The investment firm said cat bond spreads that are elevated relative to historical levels continue to offer an attractive entry point for investors.
-
A market-wide loss of $700mn would amount to around 15% of the total amount of life ILS assets under management .
-
The life segment has shifted from its genesis in mortality and morbidity risk transfer as lapsed risk deals have proliferated.
-
The Zurich-based ILS manager has entered a partnership with the new life ILS firm set up by former Securis CUO Paul Whiting.
-
The issuance is a similar size to that of 2021 and significantly larger than that of 2020.
-
The target price and size are broadly flat with last year’s deal, although it is hoping to make some savings on the lower-risk layer.
-
The mortality cat bond will again include Covid-19 cover, as was the case with the debut issuance last year.
-
The Berkshire Hathaway-owned carrier is looking to make “major contributions” to the region.
-
The injection leaves US private equity firm Golden Gate Capital as a controlling shareholder.
-
The deal will be one of only two standalone mortality bonds on risk when it completes
-
Some fund managers were negative on the deal, given the continuing uncertainty caused by the Covid-19 pandemic.
-
The La Vie Re deal is the first standalone extreme mortality bond since the start of the Covid-19 pandemic and includes coverage for the disease.
-
The ILS manager is discussing public solutions and expects demand to emerge.
-
The reinsurer will disband its life capital unit, making digital platform iptiQ standalone, as the unit's chief moves to the CUO role.
-
Funds will be raised by contributions from at-risk businesses, insurance companies, plus cat bonds and government funds.
-
Canada Life, Munich Re and Swiss Re have covered the pension liabilities of 200,000 pensioners in the Netherlands.
-
The Ivy vehicle will co-invest on deals with Global Atlantic.
-
The finance company is led by ex-Leadenhall deputy CIO Dan Knipe.
-
Pre-Covid-19 mortality risks generally provided low single-digit returns, but significant repricing is underway.
-
Coronavirus cases could reach between 800,000 and 2.9 million by the start of April.
-
The longevity swap is the second-largest transaction ever completed in the UK after the £16bn BT Pension Scheme deal in 2014.
-
The cat bond covers hurricane and extreme mortality risks, according to sources.
-
The Netherlands-based life insurer said it is currently unwilling to bear volatility and will be closing down its $300mn ILS portfolio.
-
Deputy CIO Dan Knipe is setting up a new credit platform.
-
-
The majority of the longevity risk was reinsured by Hannover Re.
-
Amid an uncertain year for the life insurance segment, mortality and value-in-force transactions remained the mainstay of life ILS managers as fundraising tapered off after a 2018 growth spurt.
-
Private equity firm The Carlyle Group has lifted its stake in Fortitude above 70 percent.
-
The long-term legacy life portfolio manager will use the capital for new run-off acquisitions.
-
The former Swiss Re executive joins after the firm's former head of life left in late 2018.
-
The latest Sigma report said that continuing economic uncertainty will not halt premium expansion.
-
Parent asset manager Apollo is set to nearly double its stake in the life insurer.
-
The banking fund’s ILS investments have increased as fellow UK investor IBM Pensions Trust keeps its allocation steady.
-
The second payment from its cash fund is in addition to $20mn approved in February.
-
Demand for longevity swaps has increased as Brexit approaches, the reinsurer said.
-
Terms of the deal were not disclosed.
-
The US remains the largest insurance market, accounting for $1.5tn of global life and non-life premiums.
-
The two firms first partnered at the start of this year.
-
The launch was first trailed this April.
-
The life settlement industry is looking to attract ILS capital but many industry practitioners are reluctant to enter the space due to concerns over valuations, returns and the sector’s past reputation for unscrupulous practices.
-
This is PartnerRe's first longevity reinsurance transaction in Canada.
-
The continuing decline in UK life expectancy rates, evidenced by new data updated for 2018, may increase the affordability of pension de-risking, according to experts.
-
The deal covers liabilities for more than 150,000 pensioners.
-
Marvin Pestcoe replaces Craig Fowler who was appointed CEO of the start-up in March.
-
He moves across from the broker’s former securities division.
-
The broker also announced a new life practice group.
-
Javier Rivas left the company last month for a new role at the Spanish life insurer.
-
Tropical Storm Risk has projected 12 tropical storms, five hurricanes and two major hurricanes for the 2019 storm season.
-
The outbreak is eligible for cover under a 2018 pandemic cat bond sponsored by the World Bank.
-
There have been 452 confirmed cases in the latest Ebola outbreak.
-
The deal covers 8,000 people across six separate defined benefit pension schemes.
-
The reinsurer said cyclone losses were above average with global insured losses at $25bn.
-
Suspected Ebola deaths are above the level that would trigger a $28.5mn bond pay-out.
-
The California Department of Forestry and Fire Protection said the blaze was so far spread across 150,000 acres and was 65 percent contained.
-
Insured loss estimates for the storm have now pushed into the $10bn-$15bn range, from $5bn-$10bn estimates last week.
-
The acreage burned so far this year is already almost double the amount last year, the ratings agency said.
-
There would be a 30 percent loss if there were between 250 and 750 confirmed deaths.
-
The new IFRS 17 accounting standard, which will be mandatory from January 2021, could lead to ILS opportunities in the life sector from as early as the middle of next year, sources said.
-
The fundraising takes the investment manager’s life ILS asset base to more than $2.5bn.
-
UK bank Lloyds has set up a JV with the investment manager, which owns a share in $3bn ILS manager Secquaero.
-
The improved funding status of UK pensions and lower rates have boosted the UK pension de-risking market.
-
Launched this year, the company targets risk from closed in-force life and annuity blocks of business.
-
The Dutch life insurer made its first ILS investments as it targets building a direct reinsurance portfolio.
-
Longevity swaps are expected to take off in the Benelux country due to an improved regulatory environment.
-
Securis Investment Partners has raised $370mn in subscriptions for the second vintage of its Securis Life Fund, the firm told Trading Risk.
-
Scor assumed 100 percent of the risk written by the insurer.
-
The reinsurance deal covers $700mn of liabilities.
-
A dearth of underwriters able to price longevity risk in what has turned out to be a robust year for longevity swaps is stalling the UK market, according to Amy Kessler, senior vice president and head of longevity risk transfer at Prudential.
-
The PIC parent has completed a number of longevity swaps.
-
The body said it was cautiously optimistic that an outbreak of the virus had been contained to remote areas.
-
Private lapse deals are on the rise in the ILS market, driven by Solvency II regulations which require life insurers to hold onto more capital for lapse risk, according to life ILS managers.
-
David Horley will work on deal origination, structuring and execution.
-
The World Health Organization calls the arrival of Ebola in an urban area “very concerning” although no deaths have been confirmed.
-
Canada Life Reinsurance has reinsured a significant proportion of the longevity risk.
-
The deal brings total longevity risk volumes between the two parties to £4.4bn.
-
Prudential Retirement and Pension Insurance Corporation (PIC) have launched a new process to expedite longevity reinsurance transactions for smaller pension buy-ins and buy-outs.
-
Confirmed Lassa fever deaths have risen from 72 to 95 in Nigeria, the World Health Organization (WHO) said, as the figure remains below the level required to trigger a payout under the World Bank's pandemic cat bond.
-
Prudential has transferred £12bn in annuity assets to life reinsurer Rothesay Life as part of its demerger of M&G Prudential from Prudential Plc.
-
ILS investors are closely monitoring the World Bank's pandemic cat bond, as a partial payment could be triggered if a major outbreak of Lassa fever widens in Nigeria, sources told Trading Risk.
-
The strategy of Langhorne Re, the closed-ended life fund set up last month by RenaissanceRe and life reinsurer Reinsurance Group of America (RGA), will be based largely around a leveraged asset play, according to sources.
-
The Prudential Insurance Company of America (PICA) has assumed the longevity risk attached to £1.3bn of annuity liabilities held by Scottish Widows.
-
Aetna Life Insurance's $200mn Vitality Re IX cat bond has priced at a record low with both tranches of the deal settling below the initial guidance, according to sources
-
Pension Insurance Corporation (PIC) has agreed a £725mn reinsurance agreement with PartnerRe which covers the longevity risk it acquired after insuring the Dockworkers Pension Fund in a buy-in last year.
-
Lincoln Financial Group has agreed to purchase Liberty Life Assurance Company of Boston from Liberty Mutual for $3.3bn.
-
Hymans Robertson has hired actuary Baljit Khatra from Mercer as a risk transfer consultant, the company announced.
-
RenaissanceRe and Reinsurance Group of America (RGA) may look to raise further life reinsurance funds following the launch of their $780mn joint venture Langhorne Re, sister publication The Insurance Insider reported.
-
Aon has confirmed it brokered £900mn of annuity reinsurance for the Liverpool Victoria Friendly Society (LV=) from the Reinsurance Group of America (RGA).
-
Luca Tres, head of life at Securis, says the life ILS sector needs to steer clear of leveraged asset plays, which could fail if the wider markets collapse
-
RenaissanceRe has partnered with Reinsurance Group of America (RGA) to launch a life reinsurer which will use third-party capital to target in-force life and annuity blocks.
-
Leadenhall-backed Gryphon Group Holdings is to take on the Guardian brand name for its start-up which plans to take a technology-focused approach to providing life insurance products
-
Bermuda life insurer Athene Holding has agreed to reinsure $19bn of fixed and fixed indexed annuity liabilities of Voya Financial, a US annuity provider
-
Prudential Retirement has completed a sixth longevity reinsurance transaction with Legal & General that will see it take on £600.0mn ($803.6mn) of UK annuity business
-
Legal & General has insured the benefits of pensioners in the Merchant Navy Officers Pension Fund (MNOPF) in a £490mn buy-in deal
-
Australia, the Netherlands and Canada have been tipped as countries where longevity swaps are likely to take off in future due to improved data and regulatory conditions, market participants have said
-
Solvency II continued to drive life deals in 2017 after the EU capital regime came into force last year, while the market dislocation seen in 2016 following an increase in mortality rates finally abated, sources said.
-
Swiss Re has agreed to purchase 1.1 million life insurance policies from Legal & General for £650mn.
-
NN Life, part of the Nationale-Nederlanden (NN Group), has offloaded EUR3bn of longevity risk to Hannover Re in an index-based longevity transaction, according to sources.
-
Schroders has launched a specialist life ILS fund with $750mn of committed capital, the company announced today.
-
Prudential Retirement, a unit of Pension Insurance Corporation (PIC) and Prudential Financial, has offloaded £900mn ($1.2bn) of longevity risk to Prudential Insurance Company of America.
-
The Hartford has agreed to acquire Aetna's US group life and disability business in a $1.45bn deal that it said would make it the second largest group life and disability insurer in the US market with approximately $5bn in expected earned premium.
-
Japanese insurer MS&AD Insurance Group Holdings has agreed to invest up to £800mn in Swiss Re's UK closed life book consolidator ReAssure
-
The price of longevity swaps has dropped this year, partly due to reinsurers adjusting their rates to reflect the slowdown in life expectancy improvement, sources told Trading Risk
-
Robus Group has hired Marsh senior account executive David Riley to set up its first fully independent longevity swap incorporated cell company (ICC).
-
British Airways' pension scheme APS has finalised a £1.6bn (EUR1.8bn) longevity swap with PartnerRe and Canada Life Re via a captive in Guernsey, its trustee board said in a letter to members
-
Bermuda life insurer Athene Holding entered the pension risk transfer market for the first time in the second quarter as its Iowa life insurance subsidiary assumed $320mn of liabilities.
-
Pension insurance company Rothesay Life said a trio of investors have agreed to buy Goldman Sach's remaining stake in the company for an undisclosed sum.
-
UK energy provider SSE has finalised a £1.2bn ($1.56bn) combined longevity swap and buy-in for two of its defined benefit pension schemes, adviser Hymans Robertson said.
-
Swiss Re has signed up to reinsure Spanish life insurer Bansabadell Vida's individual life risk portfolio for a commission of EUR683.7mn ($797mn).
-
Alternative reinsurance growth; ILS rankings; Cyber loss potential; Egon loss estimates rise; Hannover Re fronting expansion; PIC reinsures £1bn longevity risk...
-
Pension Insurance Corporation (PIC) has concluded a £1bn longevity reinsurance agreement with Scor, the companies announced.
-
ILS managers can differentiate themselves by offering cover for "non-cat catastrophe" risks, according to Aon Benfield's Jonathan Davies.
-
The International Bank for Reconstruction and Development (IBRD) has raised the target size of its first pandemic cat bond from $100mn to potentially as high as $400mn, according to Trading Risk sources.
-
The support provided by London ILS manager Leadenhall Capital Partners to life insurance start-up Gryphon Group Holdings is connected to an embedded value (EV) transaction, Trading Risk understands.
-
Leadenhall Capital Partners is a key investor in start-up Gryphon Group Holdings, which plans to take a technology-focused approach to delivering life insurance products.
-
A significant drop in social and healthcare spending in the UK is now thought to be the cause of a slowdown in mortality improvement, which has led the longevity swap market to stall.
-
Scor has appointed Wolfgang Murmann to the new role of head of longevity for Europe (excluding the UK), the Middle East and Africa, the company confirmed today
Most Recent
-
Brookmont Capital’s cat bond ETF aims to expand ILS investor base
23 September 2024 -
Beazley secures $210mn with third PoleStar Re cyber bond
20 September 2024 -
777 Partners alleges firm hired by LCP accessed its systems improperly
20 September 2024 -
Allstate pegs August cat losses at $215mn post-tax
19 September 2024 -
Opinion: Florida capital raising environment not in the clear yet
18 September 2024