Symetra and TIAA launch Bermuda annuity reinsurer Mariner Re, with TIAA to invest $750m
Symetra Investment Management will take the lead role in managing the reinsurer's investments alongside TIAA-owned Nuveen.
Symetra Investment Management will take the lead role in managing the reinsurer's investments alongside TIAA-owned Nuveen.
Taiju aims to use Resolution Life's investment capabilities to set a higher assumed interest rate.
The reinsurer said the transaction marks the US market entry of its Savings & Retirement business.
Howden Re says Apollo has been selected as managing agent for the new syndicate.
The Bermuda reinsurer, co-sponsored by MetLife and General Atlantic, took on some risks from a MetLife affiliate.
Constellation Re said Fitch assigned its Bermuda reinsurer an A insurer financial strength rating alongside the deal.
The issuance provides quota-share reinsurance protection for offshore windfarm property insurance business on the Chinese Mainland.
MS Amlin reported a 12.5% uplift in the latest Phoenix Re issuance compared with 2024.
Prudential keeps its obligations to policyholders and will continue to administer the reinsured contracts.
Fitch expects Bermuda to keep most of the offshore pool, 72 per cent of it affiliated at year-end 2025.