'The ability of insurers to significantly lower the total asset requirement for long-duration blocks of business that rely heavily on asset returns appears to be one of the drivers of the significant increase in reinsurance transactions,” wrote a New Jersey and an Iowa insurance regulator. 'A stunning development,' said one federal official. The post NAIC Urged to Limit ‘Bermuda Triangle’ Strategy appeared first on Retirement Income Journal ..read more

The ERISA Advisory Council recently heard comments on changing the criteria that fiduciaries use when vetting annuity providers in pension risk transfer deals. Athene's vice chairman defended his company's practices. The post Of Athene, Pension Risk Transfers, and Fiduciaries appeared first on Retirement Income Journal ..read more

USAA, a reciprocal insurer, completed reinsurance transactions with Commonwealth Annuity and Life and Fortitude Re, according to its 2021 annual statements. The post USAA inked a pair of reinsurance deals in 2021 appeared first on Retirement Income Journal ..read more

Fortitude Re, a reinsurer backed by The Carlyle Group, a $276 billion private equity firm, is completing its annuity-reinsurance-asset management strategy. Midwest Holdings' life insurer, American Life, has launched a new indexed annuity pegged to an 'ESG' index. The post Fortitude Re, Midwest Holdings pursue ‘triangle’ strategies appeared first on Retirement Income Journal ..read more

Fortitude Re will assume the assets and liabilities of a $31 billion block of Prudential annuities, and pay Prudential $1.5 billion. The block consists mainly of variable annuities with living benefits that Prudential sold before 2011. The post Prudential Sells $31bn Annuity Block to Bermuda Reinsurer appeared first on Retirement Income Journal ..read more

In a pension risk transfer deal, Athene Holding will acquire about $4.9 bn in pension assets and liabilities from Lockheed Martin. But when do these deals become too much about investors and AUM and too little about pensioners? (Photo: Athene Holding CEO Jim Belardi ringing NYSE opening bell in 2016.) The post Athene Takes Another Bite at Pensions Apple appeared first on Retirement Income Journal ..read more

With approximately $2.3 billion in assets under management as of March 31, 2021, Aspida plans to 'underwrite new insurance products, execute reinsurance transactions, and pursue opportunistic acquisitions.' The post Aspida Financial to begin issuing annuities in 2022 appeared first on Retirement Income Journal ..read more

Publicly-held life insurers are using reinsurance to improve their balance sheets. But at what cost? 'I believe that many of these [reinsured] blocks of business are only being funded in part with real assets,' a forensic accountant told RIJ. The post Bermuda Triangle Part IV: The Reinsurance Angle appeared first on Retirement Income Journal ..read more