life insurance

The impact of alternative reinsurance capital in the life reinsurance sector provides one of the largest traditional players with both competition and new opportunities, according to the CEO of Reinsurance Group of America.

Reinsurance firm Swiss Re has entered into an agreement with HSBC to purchase over 400,000 individual and group pension and related annuity policies as well as GBP £4.2 billion in unit-linked assets from HSBC Life (UK) Limited.

The New York Department of Financial Services has proposed stronger oversight and the need for increased transparency for certain acquisitions of life insurance (or reinsurance) businesses, particularly where the acquirer is an investor, such as a private equity firm.

Resolution Life, the life focused arm of insurance entrepreneur Clive Cowdery’s Resolution Group, has set up a new permanent capital structure which aims to acquire and manage in-force portfolios of life insurance to benefit its institutional investors.

SCOR Global Life, a subsidiary of French reinsurer SCOR SE, has completed a VIF (Value of In Force) life reinsurance transaction with Mediterráneo Vida, a Spanish insurer owned by Banco Sabadell.

Reinsurance firm Swiss Re is continuing to seek investment support for its Admin Re unit, with third-party capital providers an option it is open to, according to the reinsurers CEO Michel Liès.

Investment bank Goldman Sachs has announced the sale of a majority stake in its leading UK pension risk transfer specialist life insurer, Rothesay Life. The sale has been expected since August as Goldman Sachs continues to offload insurance and reinsurance business stakes to meet capital rules.

The first tranche of the novel Salam III Limited securitization of in-force life insurance policies has now been issued. The unique deal, transacted as an Islamic bond, or Sukuk, is the first time we know of an insurance-linked securitization (ILS) of takaful (Sharia’a-compliant) insurance policies taking place.

Rothesay Life, a leading UK pension risk transfer specialist life insurer and provider of bulk annuities, has completed a pension risk transfer transaction for the Philips Pension Fund, taking on a portion of its liabilities including longevity risks.

Rothesay Life, a leading UK pension risk transfer specialist life insurer which owner Goldman Sachs intends to sell a majority stake in, has completed another pension risk transfer transaction. The £280m bulk annuity transaction sees Rothesay Life take on more pension plan risk including covering longevity.