Private equity-owned insurers increased their stake in the industry’s admitted assets in 2022 by more than 15% on a year-over-year basis, according to a new AM Best special report.
Tag: life insurance
AIG Profit Beats Estimates on Gains in Life and Retirement Unit
American International Group exceeded second-quarter profit expectations on Tuesday, driven by growth at its life and retirement unit and lower-than-expected catastrophe losses in what was a very expensive quarter for the industry.
AIG Buoyed by Higher Premiums on Business Insurance
AIG showed continued improvement in its core business-insurance operations, but a weaker and shrinking share of income from a life-insurance unit being divested kept its operating income relatively flat.
Life Insurance Is Profitable Again, but Too Late for Many Insurers
Higher interest rates, driven by the Federal Reserve’s anti-inflationary campaign, have provided the life insurance industry a new opportunity to profit.
Twelve Capital: Liquidity Risks “Remote” for Most Reinsurers Amid Banking Crisis
Twelve Capital, an independent investment manager specializing in insurance investments, concluded that “liquidity risk is remote” for most reinsurers.
Life Insurers Boosted Premiums, Now They Are Paying Refunds
When interest rates fell to near zero after the financial crisis, dozens of life insurers boosted costs for longtime policyholders, seeking to improve results as their investment income fell.
Life Insurers Paid a Record $100 Billion in Death Benefits in 2021
U.S. life insurers paid a record $100 billion in death benefits in 2021, fueled by another year of Covid-19 deaths.
Lemonade Goes Abroad to the UK
Lemonade, an insurance company powered by artificial intelligence and social impact, has launched in the United Kingdom. Residents in the United Kingdom can now obtain Lemonade Contents insurance instantly, from anywhere, on any device, and file claims and receive payment in seconds. “We believe the millions of local renters will appreciate what Lemonade has to… Continue reading Lemonade Goes Abroad to the UK
Life Insurance New Annualized Premium Growth Continues in 2Q 2022: LIMRA
Total U.S. life insurance new annualized premium increased 6% in the second quarter 2022, the sixth consecutive quarter of premium growth, according to LIMRA’s Second Quarter 2022 U.S. Retail Life Insurance Sales Survey. In the first six months of 2022, new premium was 11% higher than the same period in 2021. “Strong indexed universal life… Continue reading Life Insurance New Annualized Premium Growth Continues in 2Q 2022: LIMRA
AIG’s Life and Retirement Unit Files for IPO
SAFG Retirement Services Inc, the holding company of American International Group Inc’s life and retirement business, filed for an initial public offering in the United States on Monday. SAFG reported total revenue of $23.39 billion for the fiscal year ended Dec. 31, a 55 percent increase, in the filing. Adjusted after-tax operating income increased 14.5… Continue reading AIG’s Life and Retirement Unit Files for IPO