2022 Focus Series: Asset Manager Re/Insurers: The Ongoing Quest for More Assets

Price : $999.00

This fourth edition of Conning’s ongoing coverage of the restructuring annuity market explores where AM-affiliated annuity insurers are looking for growth beyond fixed and indexed annuities.

Specifically, this edition:

  • Examines the increased competition for individual annuity liabilities.

  • Analyzes the expanding annuity opportunities:  – pension risk transfers – variable annuity liabilities  – income solutions to 401(k) plans

  • Identifies two markets attracting AM-affiliated annuity insurer interest: – credit origination platforms – institutional investment products

  • Considers how moving beyond fixed and indexed annuities represents a new stage in the evolution of the AM-affiliated annuity insurer.

Table of Contents:


Slower Growth Ahead?

  • Strong Premium Growth So Far

  • Significant Market Share and Concentration a Factor in Slowing Growth

  • Annuity Reinsurers Confront Shrinking Opportunities

Expanding Beyond Fixed and Indexed Annuities

  • Entering the PRT Market

  • An Emerging Variable Annuity Appetite

Moving Beyond Individual Annuities

  • AM-Affiliated Annuity Insurers Acquire Credit Origination Companies

  • AM-Affiliated Annuity Insurer/Credit Origination Case Studies

  • Expanding into the Funding Agreement-Backed Securities Market

The Re-emergence of Convergence?

Appendix: A Restructuring Year in Review


As 2022 begins, the U.S. AM (asset manager) affiliated annuity insurers have acquired a noticeable market share of individual fixed and indexed annuity direct premium and reserves. Looking ahead, a key challenge for the AM-affiliated annuity insurers will be capturing more assets in the face of increasing competition.

This report is part of our ongoing series examining the restructuring tsunami affecting the annuity industry. We anticipate that 2022 will see restructuring continue, and we will provide additional updates and analysis on this important subject.