Briefs from the ‘Bermuda Triangle’
October 8, 2024 by Kerry Pechter
US insurers hold more private equity, but income on PE drops; State Street sued again for recommending Athene in PRT deals; State Street and Apollo to partner on distribution of private assets; Oceanview launches ‘Topsider’ fixed indexed annuity; Munich Re wants to take longevity risk out of life insurers’ PRT deals; LeMay and Bickler to co-lead Individual Markets at Global Atlantic.
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Wink’s Moore on the Market: AI says:
“Capital and surplus refers to the assets on an insurance company’s balance sheet that are in excess of the amount needed to cover legal liabilities. It’s a measure of an insurance company’s financial health and ability to protect policyholders in the event of losses.”
Kerry Pechter says:
“The [Best’s Special] report notes that the average exposure for capital & surplus (C&S) among the top 15 holders of private equity investments is 40.2%. However, more than half of AM Best’s rated companies with private equity investments have exposures amounting to less than 10% of their C&S.” -sjm
