Zurich

MetLife, Zurich Complete $3.5bn Longevity Reinsurance Transaction

Retrieved on: 
Thursday, January 20, 2022
Professional Services, Insurance, Finance, Transfer, Financial Conduct Authority, News, Longevity, MET, SIX Swiss Exchange, Group, Zurich Insurance Group, Appetite, MetLife, Aon, NYSE, Financial Conduct Authority v Arch Insurance (UK) Ltd & others, OTCQX, Solution, Parable of those who associate partners with God, Uncertainty, Insurance, AON, Consultant, Securities & Exchange Commission of Pakistan, LexisNexis Risk Solutions, Aon (company), U.S. Securities and Exchange Commission, Risk, United Kingdom, Partnership, Security (finance), Financial services, MetLife, Aon, Zurich, METLIFE, AON, ZURICH

Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, Inc. (MetLife), announced today it has completed a significant longevity reinsurance transaction involving an unnamed U.K. pension scheme, using an independent U.K. regulated insurer, Zurich Assurance Ltd. (Zurich) as intermediary.

Key Points: 
  • Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, Inc. (MetLife), announced today it has completed a significant longevity reinsurance transaction involving an unnamed U.K. pension scheme, using an independent U.K. regulated insurer, Zurich Assurance Ltd. (Zurich) as intermediary.
  • The transaction, which was completed in Q4 2021, was MetLifes first longevity swap of U.K. pension scheme liabilities.
  • Under the terms of the agreement, Metropolitan Tower Life Insurance Company will provide reinsurance for longevity risk associated with approximately $3.5 billion of pension liabilities.
  • Greg Wenzerul, Head of Longevity Risk Transfer at Zurich, adds, We are delighted to have worked with MetLife on this latest deal.

Prudential, Zurich close significant £6 billion longevity reinsurance transaction

Retrieved on: 
Wednesday, April 28, 2021
Other Professional Services, Professional services, Insurance, Finance, Actuarial science, Longevity risk, Reinsurance, Zurich Insurance Group, Insurance, Finance, Financial services, Economy, Prudential Retirement, Prudential Financial, Willis Towers Watson, Zurich, PRUDENTIAL RETIREMENT, PRUDENTIAL FINANCIAL, WILLIS TOWERS WATSON, ZURICH

b'Prudential Retirement\xe2\x80\x99s International Reinsurance business has closed its first reinsurance transaction involving an unnamed U.K. pension scheme using an independent U.K.-regulated insurer, Zurich Assurance Ltd., as intermediary.

Key Points: 
  • b'Prudential Retirement\xe2\x80\x99s International Reinsurance business has closed its first reinsurance transaction involving an unnamed U.K. pension scheme using an independent U.K.-regulated insurer, Zurich Assurance Ltd., as intermediary.
  • The transaction, which closed in March of 2021 and transfers longevity risk associated with \xc2\xa36 billion ($8.4 billion) of pensioner liabilities, is Prudential\xe2\x80\x99s third largest U.K. longevity risk transfer transaction to date.
  • Ian Aley, head of transactions, said: \xe2\x80\x9cThis transaction demonstrates the robustness of the longevity reinsurance market, with U.K. pension scheme trustees continuing their keen focus on removing risk.
  • This is the third longevity reinsurance transaction we have partnered with Prudential on in recent years, transferring in total more than \xc2\xa330 billion of longevity risk and enabling the trustees to progress their de-risking journeys.

ANV to Expand M&A Insurance Offering

Retrieved on: 
Friday, April 16, 2021
Insurance, Professional services, Insurance, Federal Trade Commission, AmTrust Financial Services, Underwriting, Economy, Companies, ANV, Zurich

Barcelona based ANV has been underwriting M&A insurance as an MGA since 2013 and focuses on providing bespoke transaction risk insurance to clients in Europe and the U.K., with particular expertise in Southern Europe.

Key Points: 
  • Barcelona based ANV has been underwriting M&A insurance as an MGA since 2013 and focuses on providing bespoke transaction risk insurance to clients in Europe and the U.K., with particular expertise in Southern Europe.
  • ANV focuses on financial lines and transaction risk (M&A) insurance, offering underwriting solutions for risks where standard models cannot be easily applied and a more hands-on and solution-oriented underwriting approach is needed.
  • ANV is a wholly-owned subsidiary of AmTrust Financial Services, Inc., an insurance holding company headquartered in New York, which offers specialty property and casualty insurance products, including workers' compensation, business owner's policy (BOP), general liability and extended service and warranty coverage.\nZurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets.
  • With about 55,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 215 countries and territories.

Zurich Partners With Carpe Data to Combat Fraud and Increase Claims Efficiency Through New Data

Retrieved on: 
Monday, March 9, 2020
Professional services, Data management, Technology, Insurance, Finance, Software, Economy, Crimes, Property crimes, Finance, Money, Insurance, Insurance industry, Fraud, Zurich, Carpe Data

The insurer is now working with Carpe Data, a California-based company whose innovative use of alternative and emerging data provides Zurich with improved claims processing efficiency and a major advantage in fighting fraud.

Key Points: 
  • The insurer is now working with Carpe Data, a California-based company whose innovative use of alternative and emerging data provides Zurich with improved claims processing efficiency and a major advantage in fighting fraud.
  • This not only stops fraud in its tracks, but also allows legitimate claims to be paid faster.
  • Carpe Data is the latest addition to Zurichs ongoing innovation programs focused on transforming the future of insurance, said Zurich Head of Claims Fraud, Scott Clayton.
  • Carpe Data harnesses the power of emerging and alternative data for insurance carriers around the globe with powerful, proven AI.