2021 Focus Series Press Release: The New Annuity (Re)insurer Landscape
Conning is Pleased to Announce its Newest Focus Series-
“The New Annuity (Re)insurer Landscape”
HARTFORD, CT – August 23, 2021 – The entire annuity competitive landscape is undergoing a seismic restructuring. Over the past ten years, new entrants have sought to gain access to annuity insurers and their substantial assets by establishing new reinsurance platforms. At the same time, many annuity insurers 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.
The Conning Focus Series report, “The New Annuity (Re)insurer Landscape” is the second in a four-part series that Conning is releasing in 2021 to examine the role of new reinsurers, asset managers and capital providers entering this market and the shifting competitive landscape.
“Beginning in 2018, insurers have divested at least $220 billion of annuity and life insurance liabilities as they restructured their business models. It is the emergence of new reinsurers that is key to the devolution of the annuity business. While utilizing traditional forms of reinsurance, the objective of these new reinsurers is to support their owners’ quest for permanent capital,” said Scott Hawkins, a Director with Insurance Research at Conning.
“The new annuity reinsurers are primarily domiciled in Bermuda or the Cayman Islands. This has raised concerns among some observers about their stability in the event of a crisis. Understanding that issue and how significant that concern should be for investors, policy holders, and other stakeholders is one reason we undertook a deeper look at this new reinsurance landscape,” added Steve Webersen, Head of Insurance Research.
“The New Annuity (Re)insurer Landscape” Focus Series is available for purchase from Conning by calling (888) 707-1177 or by visiting https://www.conning.com/insurance-research.
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Conning (www.conning.com) is a leading investment management firm with a long history of serving the insurance industry. Conning supports institutional investors, including insurers and pension plans, with investment solutions, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.
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