 By Kerry Pechter
Flow reinsurance involves the ongoing, immediate transfer of risks from a life insurer to a reinsurer as soon as annuities are issued. Life/annuity companies have used flow reinsurance for at least 15 years, but it’s growing fast. (Photo: Gullfoss in Iceland.)
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Cannex puts 401(k) annuities to the test
By Kerry Pechter 'Insurance companies should all be thinking carefully about this,” said Ramsey Smith, CEO of ALEXIncome, with respect to the nascent 401(k) annuity market. 'They need to understand that this is a Once-in-a-Generation opportunity to establish themselves in the 401(k) space.'
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The Dimming of Brighthouse—Or a New Dawn?
By Kerry Pechter The Financial Times reported last week that Brighthouse Financial wanted to sell itself. A major seller of RILAs, Brighthouse has a general account worth more than $100 billion. But it also has blocks of unprofitable variable annuities that it inherited from MetLife.
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Honorable Mention
Merit Life reincarnated as Knighthead Life; Morgan Stanley to distribute five Allianz Life index annuities; BlackRock’s LifePath Paycheck reaches $16 billion in AUM.
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Where PRT Meets DC: The Agilis/Alight Plan
By Kerry Pechter Agilis, an actuarial and risk management firm, and Alight, a retirement plan recordkeeper, have created an annuity purchase process, PensionBuilder, for participants in large 401(k) plans. Their process replicates the defined benefit 'pension risk transfer' process, but at the defined contribution plan level.
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Private Credit AUM to Double by 2028: Moody’s
The Moody’s report showed that, as of the end of the third quarter of 2024, private credit and insurance assets accounted for 52% the AUM of the four largest alternative asset managers: Apollo, Blackstone, Carlyle and KKR.
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