Trends in Life and Annuity Insurance: Growth and Challenges in 2022

In early 2022, KBRA observed a significant trend of asset managers increasing their involvement in the life and annuity insurance sectors. This involvement presented various challenges for insurers concerning regulatory compliance requirements but also offered strategic solutions through private equity and alternative asset managers. The industry witnessed marked growth in mergers, acquisitions, and reinsurance activities, leading to expanded offerings by both established insurers and new market entrants as annuity providers adapted to increased business volume.

Since then, the dynamics of transaction structures between investment firms and life/annuity insurers have become more complex. This diversification includes a broader range of participant profiles and strategic purposes driving these collaborations. KBRA expects these evolving partnerships to foster long-term stability and growth in the insurance sector, enhancing risk management and underwriting strategies.

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