US life/annuity insurers cede $1.74 trillion to reinsurers, 2016-23

September 10, 2024 by Editorial Staff

Fueled by strong annuity growth on higher interest rates, U.S. life/annuity (L/A) insurers have doubled their ceded reserves to $1.74 trillion between 2016 and 2023, with an increasingly larger portion headed offshore, according to a new AM Best report.The Best’s Market Segment Report, “Strong Annuity Growth Continues Shift to Bermuda Reinsurers,” is part of AM Best’s look at the global reinsurance industry ahead of the Rendez-Vous de Septembre in Monte Carlo.

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Originally Posted at Retirement Income Journal on September 4, 2024 by Editorial Staff.