Assured Guaranty Acquires Warwick Re: A Shift in Annuity Reinsurance

Assured Guaranty has entered the annuity reinsurance industry with its acquisition of Warwick Re, a Bermuda-based life and annuity reinsurer, in a $158 million transaction. Following the acquisition, Warwick Re will be rebranded as Assured Life Re, emphasizing fixed-term annuities and pension risk transfer annuities. This strategic initiative leverages Assured Guaranty’s expertise in life reinsurance and asset management, positioning them as a significant player in the annuity reinsurance sector.

Leadership and Strategic Positioning

Dan Bevill's appointment as president of Assured Life Re marks a significant leadership move. The reinsurance company distinguishes itself by securing reinsurance exposures with a guaranty from Assured Guaranty Re Overseas, a highly rated affiliate. This strategic differentiation aims to enhance their standing within the competitive landscape of life and annuity reinsurance, focusing on robust regulatory compliance and innovative risk management strategies.

Product Offerings and Industry Experience

Warwick Re's specialty in reinsurance products, such as U.S. multi-year guaranteed annuities and U.K. bulk purchase annuities, aligns with Assured Life Re’s continued offerings. Dominic Frederico, President, and CEO of Assured Guaranty, highlighted their extensive industry experience by noting, “Assured Guaranty has over 40 years of experience as a financial guarantor.” This deep understanding of the reinsurance domain, coupled with a disciplined risk management approach, is expected to drive Assured Life Re’s competitive edge in the market.