2021 Focus Series: The Annuity (Re)insurer Restructuring Tsunami
Over the past ten years, there has been an increasing level of attention provided to the life and annuity market. New entrants have sought to gain access to annuity insurers and their substantial assets under management by establishing new platforms or through the acquisition of or partnership with existing platforms.
This report is the first in a four-part series that Conning will release in 2021 to examine the role of new parties entering this market and the shifting competitive landscape
- Supply Side Drivers
- Demand Side Drivers
- From Generalists to Specialists
- A Large and Growing Asset Pool
- Annuities Have Favorable Capital Requirements
- Restructuring Among 25 Largest Annuity Insurers
- 2020 Transactions Review
- Transaction Details
- Blackstone Rationale
- Allstate: Next Step in Their Exit from Life and Annuity Business
Introduction
Over the past ten years, there has been an increasing level of attention provided to the life and annuity market. New entrants have sought to gain access to annuity insurers and their substantial assets under management by establishing new platforms or through the acquisition of or partnership with existing platforms. Conversely, many of the incumbent providers have sought to reposition within or exit the annuity market altogether through a combination of subsidiary sales or reinsurance transactions. Together, these transactions are restructuring both the participants and the capital sources of the annuity industry.
This report is the first in a four-part series that Conning will release in 2021 to examine the role of new parties entering this market and the shifting competitive landscape