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Leadenhall-backed Gryphon Group Holdings is to take on the Guardian brand name for its start-up which plans to take a technology-focused approach to providing life insurance products
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Bermuda life insurer Athene Holding has agreed to reinsure $19bn of fixed and fixed indexed annuity liabilities of Voya Financial, a US annuity provider
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Prudential Retirement has completed a sixth longevity reinsurance transaction with Legal & General that will see it take on £600.0mn ($803.6mn) of UK annuity business
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Legal & General has insured the benefits of pensioners in the Merchant Navy Officers Pension Fund (MNOPF) in a £490mn buy-in deal
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Australia, the Netherlands and Canada have been tipped as countries where longevity swaps are likely to take off in future due to improved data and regulatory conditions, market participants have said
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Solvency II continued to drive life deals in 2017 after the EU capital regime came into force last year, while the market dislocation seen in 2016 following an increase in mortality rates finally abated, sources said.
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Swiss Re has agreed to purchase 1.1 million life insurance policies from Legal & General for £650mn.
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NN Life, part of the Nationale-Nederlanden (NN Group), has offloaded EUR3bn of longevity risk to Hannover Re in an index-based longevity transaction, according to sources.
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Schroders has launched a specialist life ILS fund with $750mn of committed capital, the company announced today.
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The legacy reinsurance market is catching the attention of ILS funds seeking additional yield and diversification, as business opportunities from insurers looking to offload older portfolios increase due to the tighter capital restrictions imposed by Solvency II
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Prudential Retirement, a unit of Pension Insurance Corporation (PIC) and Prudential Financial, has offloaded £900mn ($1.2bn) of longevity risk to Prudential Insurance Company of America.
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There will be significant volumes of ILS capital trapped at year-end, particularly in the retro segment, but out of this challenge the reinsurance market is looking for opportunities to spin out new products
