annuity reinsurance

Metlife and Zurich have collaborated with Aon’s Risk Settlement Group to complete a US $3.5 billion transfer of longevity risk for a UK pension scheme, through an intermediated longevity swap and reinsurance arrangement.

The market for pension risk transfer, across longevity swaps and bulk annuity arrangements, is forecast to see a bumper UK £65 billion of deals in 2022, with strong growth on the longevity swap side anticipated, according to WTW (Willis Towers Watson), while more third-party capital involvement is also expected.

Hudson Structured Capital Management (HSCM), the reinsurance, insurtech, insurance-linked securities (ILS) and transportation focused investment manager, has participated in the launch financing of a new life and annuity reinsurance firm named Martello Re Limited.

Broking group Aon appears to be expecting another large longevity swap deal to complete before the end of the year, forecasting today that 2021 longevity swap volumes will reach £15 billion.

There have been £12 billion worth of longevity swaps in the UK pension risk transfer market in 2021, with total risk transfer including bulk annuity buy-in and out deals expected to reach £40 billion for the year.

Reinsurance Group of America (RGA) is actively working on transactions for its joint-venture, third-party capital backed, life and annuity reinsurance firm Langhorne Re, according to CEO Anna Manning.

The market for longevity swaps has outpaced the use of bulk annuities, when it comes to pension risk transfer deals, through the first-half of 2021 and the second-half could also be busy as there is spare capacity in the market to be used, broker Aon notes.

Langhorne Re, the joint-venture, third-party capital backed life and annuity reinsurance firm launched by Reinsurance Group of America (RGA) in partnership with RenaissanceRe (RenRe), has promoted its Chief Operating Officer and General Counsel  Andrew Markus to become Chief Executive Officer (CEO), Bermuda.

Brookfield Asset Management Inc., the giant Canadian headquartered alternative asset manager that has around $575 billion of assets under management, continues to expand its reinsurance operations with a rating from AM Best now secured for its Cayman Islands based reinsurer North End Re (Cayman) SPC.

Brookfield Asset Management Inc., the giant Canadian headquartered alternative asset manager that has around $575 billion of assets under management, is expanding in the reinsurance space with an annuities strategy through which it expects to secure up to $10 billion of additional float at the start.