Honorable Mention
January 7, 2025 by Editorial Staff
Allianz sets up Bermuda reinsurer
Global insurer Allianz, parent of Allianz Life in the U.S., has established a new independent strategic reinsurance platform called Sconset Re Ltd., which will be capitalized through equity investments from high-quality institutional partners.
Located in Bermuda, Sconset Re “will specialize in assuming fixed indexed annuity product risk and its asset management, and will aim to deliver more efficient returns across the subject business,” a press release said.
Read the full Honorable Mention via RIJ
Wink’s Moore on the Market: Is Allianz Life about to get more competitive with their indexed annuity offering?
I think so.
The carrier just set-up a Bermuda reinsurer, Sconset Re. Ltd., which will put them even keel with competitors like Athene, F&G, and Global Atlantic.
While Athene currently holds the #1 spot for indexed annuity sales, year-to-date, I would bet my job on the fact that Allianz is going to take that position back. Soon. -sjm
