The Molins UK Pension Fund has completed a £249m buy-in deal with Aviva, securing the benefits of over 3,500 members of the scheme

The Folksam Group is investing SEK 200m in a green bond issued by Östersund Municipality, aiming to develop ongoing projects in renewable electricity and sustainable residential areas

Following its huge success in previous years, the Insurance Asset Management Conference is back for 2025 and is one not to be missed

BNP Paribas Cardif has finalised the acquisition of AXA Investment Managers (AXA IM) and signed a long-term partnership with the AXA Group to manage a large part of its assets

French mutual insurance company, Macif, has set itself the objective of financing a minimum of €300m by 2025 in responsible bonds or real economy funds that invest in the transition, whether energy, social, or biodiversity regeneration

Ninety-six per cent of global LPs plan to increase or maintain their private markets allocation in the next 12 months

Positive early steps by European insurers in addressing biodiversity risk have been made, according to EIOPA, but calls remain for stronger collaboration in key areas

The Sustainable Finance Disclosure Regulation (SFDR) is causing ‘misunderstanding and misinterpretation’ for Norwegian investment firms and selected fund managers, leading to unclear and misleading information, according to a report from the Financial Supervisory Authority of Norway (Finanstilsynet)

Royal London has published its first Climate Transition Plan, which outlines four key areas of action to support its climate commitments.

The Milliken Industrials Limited Pension Plan has completed a £44m buy-in with Royal London, securing the benefits of around 500 members

The UK Government has launched a consultation on mandatory transition plans for UK-regulated financial institutions and FTSE 100 companies

The reporting of emission calculations may give a misleading impression of the actual emission reductions, an attribution analysis of emissions calculations from Varma has found

Aviva’s £3.7bn acquisition of Direct Line is set to finalise on or around 1 July 2025 after a High Court Sanction hearing and the firm expressing it will proceed with the deal ahead of receiving clearance from the Competition and Markets Authority (CMA)

HDI Global has appointed Christian Wegener as head of investment management

Nearly four out of five (79%) insurance asset managers plan to increase both spending and effort in stress testing, scenario modelling and asset liability management (ALM) over the next two years, according to a survey by Ortec Finance

PIC has concluded three simultaneous buy-ins worth £900m with three schemes sponsored by energy technology company, Baker Hughes

European insurers play an important stabilising role by acting as contrarian traders when mutual funds are experiencing large outflows, EIOPA has revealed

Athora, an insurance company backed by Apollo Global Management, is plotting a multibillion-pound takeover of Pension Insurance Corporation (PIC) worth £4-5bn

US insurers’ exposure to residential mortgage-backed securities (RMBS) increased 17% YoY to $451.2bn, marking the second consecutive year of double-digit growth, according to the National Association of Insurance Commissioners (NAIC)

Amortisation of Korean insurers’ contractual service margin (CSM) will be a “key contributor” to their earnings stability, Fitch Ratings has stated

The general insurance market in the United Arab Emirates (UAE) is projected to grow at a compound annual growth rate (CAGR) of 10% over the next five years to over $20bn, new analysis by GlobalData has indicated

Rothesay has completed a £20m full scheme buy-in with the ABC Cinemas Limited Pension Scheme, securing the benefits of all scheme members

Two unnamed schemes have completed a multi-scheme buy-in worth £67m with Just Group, securing the benefits of all the schemes' members, including 675 pensioners and dependants, as well as 256 deferred members

Legal & General (L&G) has announced a newly agreed £400m revolving credit facility (RCF) to refinance its Industrial Property Investment Fund (IPIF)

China’s life insurance sector has experienced slower growth amid business transformation, while the country’s non-life sector growth remains driven by initiatives from its Government, Fitch Ratings has stated

Insurance Europe has announced that chief executive of Lloyd’s, Patrick Tiernan, has been appointed vice-chair of its Reinsurance Advisory Board (RAB)

The Association of Bermuda International Long Term Insurers (BILTIR) and the ABI have signed a Memorandum of Understanding (MoU) to promote cooperation and coordination of views between the two organisations

The European Insurance and Occupational Pensions Authority (EIOPA) has called for a centralised approach to insurance and pensions data collection across the EU, warning that "fragmented" national practices are hindering the single market

The Bank of England (BoE) has confirmed it will hold interest rates at their current level of 4.25%

Europe’s insurance and reinsurance sectors remain robust and well-capitalised despite a challenging global landscape, EIOPA’s latest Financial Stability Report has revealed, but risks related to the volatility of exchange rates, interest rates and equity valuations as well as exposure to geopolitical risks need monitoring

Pacific Life has issued its inaugural €600m green bond

The Net-Zero Asset Owner Alliance (NZAOA) is calling on investors to ensure their portfolios aren’t supporting or enabling deforestation

Monceau Assurances, a mutual group of insurance companies operating in France, in Belgium and Luxembourg, serving more than 300,000 members and customers and managing over €10bn in assets, has selected NeoXam GP4 to replace its legacy investment accounting solution

The US L/A industry saw its net income increase significantly to $11.5bn in Q1 2025 compared with $1bn in the same prior-year period, AM Best has revealed

More than three quarters of insurers and insurance asset managers have said an increase in capital to invest in their organisation is definite or likely in the year ahead, according to Ortec Finance

US life insurers increased their allocation to private credit to about one third of the sector’s $6trn in assets, latest figures published by Moody’s have revealed

Varma has revised its responsible investment principles to enable “productive and secure investment” in new business opportunities developing around the defence sector

Just Group has completed a £7m buy-in with The McGregor Construction (Highlands) Limited Pension Plan

Insurers form partnership to launch private equity fund dedicated to European defence and security

Dutch regulator, De Nederlandsche Bank (DNB), has appointed Olaf Sleijpen as its new President

Munich Re has chosen to withdraw from a series of climate-focused industry coalitions, including the Net Zero Asset Owner Alliance (NZAOA), the Net Zero Asset Managers Initiative (NZAM), Climate Action 100+ (CA100+) and the Institutional Investors Group on Climate Change (IIGCC), citing legal and regulatory pressures and climate disclosure complexity

Broadstone has announced the acquisition of ExactVAL, aimed at strengthening its capabilities in the life insurance and bulk purchase annuity (BPA) market, for an undisclosed amount

The British MGN Pension Scheme has completed a c. £150m pensioner buy-in with Just Group, securing the benefits of around 1,300 in-payment members

Saudi Arabia’s insurance market consolidation will accelerate over the next two years, driven by new regulatory capital requirements and weak underwriting profitability on intense price competition, Fitch Ratings has said

The credit fundamentals of Japanese life insurers will remain robust in the financial year ending March 2026 (FYE26), Fitch Ratings has said

Swedish insurance and occupational pension companies' assets decreased by almost SEK 197bn in the first quarter of 2025 (Q1), according to Insurance Sweden, equating to a 2.6% drop

A new type of private stock market will be launched later in 2025 after the FCA announced the final rules for its Private Intermittent Securities and Capital Exchange System (PISCES)

Blackstone is planning to invest up to $500bn in Europe over the next decade, CEO Steve Schwarzman has said

Pool Re has selected Clearwater Analytics (Clearwater) to modernise its investment operations, accounting, and risk management infrastructure

Transamerica Life Bermuda has been granted a licence by the Dubai Financial Services Authority to establish a presence in Dubai International Financial Centre

Investors could be risking potentially significant underperformance by following the growing switch to passive fixed income funds rather than taking an actively managed approach, Rathbones Group has argued

The Grant Thornton Pensions Fund has secured a £275m buy-in with Royal London, securing the benefits of around 2,200 members

Resolution Life has entered into a $1bn reinsurance agreement with a leading life insurer in Hong Kong

Chris Bose has been appointed director of general insurance & international at the ABI

Ninety-five per cent of institutional investors and wealth managers will increase allocations to AI and robotics over the next three years, according to new research, and 15% said this rise will be dramatic

The majority (83%) of insurers and insurance asset managers believe the risk profiles of their investment portfolios will increase over the next 12 months, with 20% expecting a dramatic increase, a new global study from Ortec Finance has found

China Pacific Insurance Company (CPIC) is pooling 50bn yuan for two private investment funds focusing on M&A in emerging sectors of strategic importance and securities investments

RGA has reached an agreement with Dai-ichi Life for an RGA subsidiary to reinsure JPY150bn of statutory reserves through coinsurance

A majority (56%) of global investors, including insurance companies, believe that President Trump’s pro-fossil fuels and anti-clean energy agenda will hamper the net-zero transition, but that momentum will recover once US leadership changes, according to Robeco’s latest Global Climate Investing Survey

The Financial Reporting Council (FRC) has published the UK Stewardship Code 2026, which includes a number of updates designed to support long-term sustainable value creation while "significantly" reducing the reporting burden for signatories

Schroders has published its first Group Nature Report, underscoring the firm’s commitment to actively navigating nature risks and meeting clients’ investment expectations in this space

German asset manager, Union Investment, has sold all its shares in ExxonMobil as it has found the oil and gas corporation doesn’t have strong enough climate targets

The London Waste Limited Pension Scheme has completed a £22m buy-in with Royal London, securing the retirement benefits of around 200 members

Japanese insurer, Dai-ichi Life, is set to take a 15% stake in M&G, with the pair announcing a “new long-term strategic partnership” across asset management and life insurance

US insurance premiums are to hit $4.5trn by 2029, double the combined total of China, the UK, Germany, and India, new data published by Stocklytics.com has revealed

Two affiliate management companies of Natixis Investment Managers, Mirova and Thematics Asset Management (AM), have announced a strategic merger project aimed at creating an offering that combines innovation and positive impact in thematic management

Rothesay has joined the race to purchase the 999-year lease of the O2, London

Muzinich & Co. announces continued expansion of global CLO platform, and more...

FrieslandCampina has completed a €1.5bn buyout with Achmea Pensioen & Levensverzekeringen N.V. (Achmea Pension & Life), insuring the pensions of around 8,000 former employees of Friesland Foods and FrieslandCampina

The Morrisons Retirement Saver Plan has completed a £270m buy-in with Aviva, securing the retirement benefits of over 32,000 deferred members of the RSP Section of the scheme

Japanese life insurers are to accelerate their efforts to expand their business in the US, mainly due to the maturity of the domestic market, Fitch Ratings has said

Japanese insurers, Meiji Yasuda Life Insurance and Nippon Life Insurance, have reported large unrealised losses on their domestic government bond portfolios

European regulators are preparing to launch a sweeping stress test targeting non-bank financial institutions (NBFIs) to assess how these market participants both contribute to and cope with adverse market-stressed events

Phoenix Group has taken steps to make it easier to change its name, with reports indicating that it is planning to switch to the Standard Life brand, a company it acquired in 2018

Pacific Life Re has announced a second asset intensive reinsurance agreement with Tokio Marine & Nichido Life Insurance Co., Ltd. (Anshin Life)

Fitch Ratings has revised its 2025 Taiwan life insurance sector outlook to ‘deteriorating’, from ‘neutral’, due to heightened risks to insurers’ earnings and capital following a recent sharp appreciation of the local currency, which has exposed insurers to significant potential losses

Hong Kong insurers are likely to maintain resilient capital positions under the HKFRS17 accounting rules and Hong Kong risk-based capital (HKRBC) regime by reshaping their product portfolios and optimising investment strategies, Fitch Ratings has said

Royal London has announced it has agreed to acquire Dalmore Capital, a UK-based infrastructure asset manager, subject to regulatory approvals

Resolution Life has entered into a reinsurance agreement with Tokio Marine & Nichido Life Insurance Co. (Anshin Life)

Chubb has announced that Tim Borough has been named vice chairman, Chubb Group and executive chairman, asset management, with Chris Hogan being promoted to senior vice president of the group and chief investment officer (CIO)

Eighty-seven per cent of global asset managers don’t meet half of the standards set out by ShareAction concerning responsible investment

The majority (82%) of institutional investors think that exchange-traded funds (ETFs) are moving from short-term asset allocation strategies to core portfolio holdings, research from Carne Group has revealed

Insurance investment outsourcing hits record $4.5trn as insurers expand further into private markets

The UK’s National Wealth Fund (NWF) should work with insurers on investment structures to unlock capital, Phoenix Group has argued

The Danish insurance and pension industry is required to report to public sector authorities 814 times a year, mapping by the country's Ministry of Digital Affairs has found

US institutional asset owners remain split on whether active or passive management offers the best risk/return profile for public market exposure, according to latest research from Cerulli

Schroders Capital’s private debt and credit alternatives business has raised €2bn in total commitments from third-party investors, including insurers, for its sub-investment grade (IG) infrastructure debt strategy

European ‘green’ investments worth more than $33bn in major oil and gas companies have been revealed by an investigation, despite fossil fuels being the root cause of the climate crisis

The UK Minister for International Development and the Economic Secretary to the Treasury have announced the launch of the Emerging Markets and Developing Economies (EMDE) Investor Taskforce, an industry-led initiative dedicated to unlocking private investment aimed at tackling climate change and seizing sustainable growth opportunities across emerging markets and developing economies

L&G has agreed to acquire a 75% stake in Proprium, a global real estate investor, to accelerate its private market growth ambitions

Aviva Investors has appointed Roland Derks as a global high yield portfolio manager

Japan’s P&C insurance market was valued at US$ 53.59bn in 2024 and is expected to reach US$ 70.60bn by 2033, growing at a CAGR of 3.11% during the forecast period 2025–2033, latest figures published by Astute Analytica have revealed

L&G has completed a $50m investment with Iceland’s National Power Company and largest energy provider, Landsvirkjun, on behalf of the former’s institutional retirement business

EIOPA has launched a new survey today to assess the adoption of generative AI solutions across the EU’s insurance sector

Zurich has announced the successful placement of US$750m of dated subordinated notes

The trustees of the Andrew Limited Pension and Life Assurance Plan have secured a £63m bulk annuity policy with Aviva, securing the pensions of all 570 scheme members

Finland’s Ilmarinen has said water is the “most important” natural resource for its investment targets, according to its latest biodiversity analysis

Seventeen of the largest UK workplace pension providers have expressed their intent to invest at least 10% of their defined contribution (DC) default funds in private markets by 2030, with 5% of the total allocated to the UK

The majority of smaller asset management firms are meeting regulatory expectations, according to a review by the Financial Conduct Authority (FCA)

US insurers’ exposure to foreign investments (bonds and stocks) decreased by more than half over the last decade ending 2024, to about $260bn in BACV, down from almost $675bn in BACV at year-end 2025, according to the National Association of Insurance Commissioners (NAIC)

Monument Re has transferred a legacy €1.4bn reinsurance portfolio, comprising annuity and other life insurance liabilities acquired as part of the 2020 Greycastle transaction, to RGA

China’s reduction in capital charges for equity investments by insurers is likely to drive them to increase their equity holdings, Fitch Ratings has stated

Octopus Capital has launched today as the new brand for the institutional asset management arm of Octopus Investments

Rothesay has completed a £120m full scheme buy-in with the AQA Pension Scheme

Lloyd’s of London has announced that Patrick Tiernan has been appointed as CEO by the Council of Lloyd’s

Starwood Capital has appointed Rob Allard as chief investment officer (CIO) for Starwood Insurance Strategies

The Cancer Research UK Pension Scheme has agreed a £280m buy-in with Standard Life, covering the benefits of 2,800 members

European Sustainability Reporting Standards (ESRS) should be more closely aligned with the business models of companies, rather than following purely formal requirements, the German Insurance Association (GDV) has argued

Total assets of Chinese insurance and asset management companies amounted to RMB 35.9trn as of the end of 2024, up by RMB 4.4trn or 13.9% from the beginning of the year, according to latest figures published by the National Financial Regulatory Administration (NFRA)

Allianz Group is supporting female-focused education in Turkey with a €2m investment

Institutional investors are concentrating a huge share of their assets with large and highly capable asset managers they consider strategic partners, new research from Coalition Greenwich has found

The US insurance industry’s total cash and invested assets increased by 5.3% YOY, reaching $898trn as of year-end 2024, according to the National Association of Insurance Commissioners (NAIC)

Mercer has today announced the completion of its previously announced acquisition of SECOR Asset Management

The UK’s defined benefit (DB) risk transfer market is witnessing a “fundamental transformation” with insurer supply now exceeding demand for the first time in several years, Hymans Robertson has suggested

Life insurers held £329bn of assets in their MA portfolios at the end of 2024, which provided a total capital benefit from the MA in the region of £78bn, figures published by the BoE have shown

The BoE might consider further action on funded reinsurance arrangements used by pension insurers as it seeks to minimise risk to the wider UK economy, executive director, insurance supervision, Gareth Truran has stated

Global assets under management (AuM) reached a record $128trn in 2024, up 12% from the previous year, a new report from Boston Consulting Group has revealed

Larger asset owners are doubling down on private markets as they navigate heightened economic and geopolitical risks, research from Mercer has revealed

Aspen Insurance is seeking a valuation of up to $2.85bn in its New York flotation, as the Bermudian specialty insurer looks to go public again in the United States after more than six years

The OSG Ship Management (UK) Limited Retirement Benefits Plan has completed a £16m full scheme buy-in with Aviva, covering the defined benefit (DB) liabilities for 53 members from OSG

The Gleaner Pension Scheme has completed a £7.5m buy-in with Aviva, securing the benefits of all 121 members, comprising 26 deferred and 95 pensioner members, and covering all the scheme liabilities

EIOPA has launched six consultations today, all related to the implementation of the EU’s Insurance Recovery and Resolution Directive (IRRD)

UK insurers plan to move more towards both value-added and opportunistic real estate investments over the next two years as they look to be more risk-on in the sector, Nuveen’s latest global institutional investor survey has revealed

The Association of British Insurers (ABI) has appointed David Otudeko as director of regulation

Finnish insurer, Varma, avoided a negative investment return in the first quarter of 2025, as it said European equities compensated against the losses from US equities

Finnish pension insurance provider, Veritas, suffered a -0.2% return on investments in the first quarter of 2025, as it said the threat of trade war is “casting its shadow over Finland”

The College of Law Pension and Assurance Scheme has agreed to a £85m buy-in with Royal London, meaning that all scheme liabilities are now fully covered by insurance contracts

China's Ping An has reported a 26.4% decline in first-quarter net profit due to reduced investment income

Sustainability issues are a key consideration for pension schemes selecting a bulk annuity provider, research from the Society of Pension Professionals (SPP) has suggested, as 88% of those polled agreed that the Sustainability Principles Charter is likely to be a factor

The ELG Haniel Metals Limited Pension and Assurance Scheme has completed a £28m buy-in with Just Group, securing the benefits of 99 deferred members and 81 pensioners

Phoenix Group’s head of stewardship, Valeria Piani, has been appointed chair of the Climate Action 100+ steering committee

MS&AD Insurance Group plans to invest up to ¥700bn (approximately $5bn) to expand its presence in North America, aiming to double operating profit in the region

Nomura is set to acquire Macquarie’s US and European public asset management business for $1.8bn

Helvetia and Baloise are to merge to create Switzerland’s second-largest insurance group with a combined business volume of 20bn Swiss francs ($24.69bn)

The number of US insurers that outsourced investment management capabilities at year-end 2024 increased by 2.5% from year-end 2023, according to the NAIC

US life/annuity (L/A) insurers allocated a higher share of new investment purchases toward bonds over mortgages and alternative assets through the first three quarters of 2024, when compared with the prior two years, according to AM Best

During the first quarter of 2025, Nordea Liv increased its market share for self-selected pension accounts (EPK) and reported growing interest in life insurance despite an "unpredictable" global economy

Schroders, in collaboration with Cornell University's Global Labor Institute (GLI), has published new guidance for engaging with companies on climate resilience

NN Group CIO, Jelle van der Giessen, has announced his retirement

Canada Life Reinsurance (Canada Life Re) has appointed Peter McGloughlin as chief investment officer

Global reinsurer, PartnerRe, is the latest firm to join the ABI

Pool Re has appointed Richard Roberts to the newly created role of chief finance and investment officer, subject to regulatory approval

The general insurance industry in Vietnam is projected to grow at a compound annual growth rate (CAGR) of 7% from VND80trn ($3.2bn) in 2025 to VND104.8trn ($3.9bn) by 2029, in terms of gross written premium (GWP), according to GlobalData

Sumitomo Life has raised its three-year cumulative target for ESG thematic investments during its current medium-term business plan period (FY2023-TY2025) to JPY1trn from JPY700bn

Schroders has been appointed by Scottish Friendly as its new investment management partner for a £2.1bn multi-asset and insurance mandate

Ageas has agreed a £1.3bn deal to buy esure from private equity group Bain Capital for £1.3bn

Physical risk as a result of rising temperatures is the most serious threat to asset performance, Ortec Finance has said, after its research showed that even most ambitious scenario does not anticipate the world reaching net-zero until mid-2050

The Insurance Commission of the Philippines (IC) has released two regulatory measures aimed at modernising investment practices for the country’s insurers and reinsurers

The South East Water Pension Scheme has completed a £120m buy-in with Just Group, securing the benefits of around 700 pensioner and dependent members and almost 300 deferred members

EU insurers are likely to keep their exposure to crypto assets minimal if proposals to set the Solvency II (SII) risk charge for such assets at 100% are adopted, Fitch Ratings has stated

Legal and General Assurance Society Limited (L&G) has insured more than £800m of pension liabilities using L&G Flow, its tailored solution for smaller pension schemes

The European Insurance and Occupational Pensions Authority (EIOPA) has outlined plans to simplify regulation and reduce administrative burdens in order to help create a more resilient and competitive European economy

China's financial regulator, the National Financial Regulatory Administration (NFRA) has raised the upper limit of insurance funds' equity asset allocation ratio by five percentage points

Janus Henderson is to manage the $45bn investment grade public fixed income asset portfolio for Guardian Life Insurance Company of America (Guardian)

The aggregate market capitalisation (MCap) of the top 25 global insurers grew 17% to $3.5trn year-on-year (YoY) during Q1 2025

European insurer solvency remains robust amid equity market declines triggered by US tariffs, Moody’s Ratings has stated

The UK’s Prudential Regulation Authority (PRA) has launched a consultation to help insurers accelerate investment in the UK

Rothesay has completed a £105m full scheme buy-in with the Skipton Building Society (2015) Group Pension Scheme

Foresters Friendly Society chief investment officer, Corrado Pistarino, provides his views on Trump's tariffs

The Financial Conduct Authority (FCA) has proposed new plans to reform its regime for alternative asset managers

Mapfre has appointed Carlos Díaz Gridilla, current assistant general manager at the insurer’s real estate subsidiary, Mapfre Inmuebles, as general manager

Forty-four per cent of hedge funds are considering changing their fee structures from the traditional ‘2-and-20’ model, according to new research from IG Prime

The US life/annuity (L/A) industry posted a 13% decline in net income to $33.3bn in 2024, driven partly by a rise in expenses of nearly 15%, according to AM Best

Major insurance companies, active in the UK, increased their investment in manufacturers of controversial weapons by 13% in the period from September 2024 to December 2024

The sale of a majority stake in German life insurance consolidator, Viridium, should help to “invigorate” the German life consolidator market, according to Fitch Ratings

Aberdeen has announced that £3bn of pension scheme policies have transferred from Phoenix Life Limited to abrdn Life and Pensions Limited (abrdn Life)

Swedish insurer Skandia has invested SEK 540m (£42.4m) in a social bond issued by Kommuninvest

The Talanx Group has announced a “double-digit million” investment to finance a sustainable vocational school building in Vienna

The Association of British Insurers (ABI) has appointed Kay Swinburne as the association’s new independent chair

Rothesay has announced the appointment of Bruce Carnegie-Brown as the company’s new chair

Insurance Europe has backed the European Commission’s proposal to delay putting new sustainability rules into place until 2028

US insurer Allstate has sold its employer voluntary benefits business to StanCorp Financial Group in a $2bn deal

Aviva Investors has completed an investment to finance the construction of two new campus developments at Cardiff and Vale College

Folksam Group has divested its entire shareholding in Tesla, after the Swedish insurer said Tesla’s approach to employee rights had violated its investment criteria

Macquarie Asset Management has announced that its Bermuda-based reinsurer, InEvo Re, has entered into an agreement with a UK insurer to reinsure its pension risk transfer (PRT) liabilities

The Englass Pension Scheme has agreed a £12m full scheme buy-in with Just Group, insuring the benefits of all 100 scheme members

A “competitive” reinsurance market has resulted in improved pricing for most insurers in the Asia Pacific (APAC) region at the 1 April renewals, a new report by Aon has indicated

Life insurer Talcott Financial Group has announced a block reinsurance transaction between its subsidiary, Talcott Life Re, and Japan Post Insurance

Lloyds Banking Group Pensions Trustees Limited has entered into two longevity insurance and reinsurance arrangements, covering a combined £5.1bn of liabilities

South Korea’s new capital requirements, including a lower capital adequacy benchmark, are to relieve insurers’ capital burden while raising their flexibility and quality, according to Fitch Ratings

MS&AD Insurance Group Holdings has decided to proceed with specific discussions and preparations for the merger of two core non-life insurance companies within the group, Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance

Pension buy-out solutions are becoming “increasingly important” in the German pensions market because of the high-level funding ratios, according to WTW head of general consulting, Dr Johannes Heiniz

K3 Advisory, part of Isio Group, has successfully led a £2m full scheme buy-in transaction for the Clark & Butcher Limited Pension Scheme with Just Group

EIOPA has published its technical advice to the European Commission (EC), recommending that a one-to-one capital requirement be applied consistently to all crypto holdings of EU (re)insurers

Rothesay has recorded a 24% increase in new business premiums during the year

M&A activity in the global insurance market hit a historic low in 2024, with only 204 transactions being completed, significantly less than the 10-year average of 380, Clyde & Co’s latest Insurance Growth Report has revealed

Competition in the bulk purchase annuity (BPA) market reached a new high in 2024, with six insurers writing over £5bn in deals for the first time, analysis from LCP has revealed

Tariffs and trade disputes have emerged as a major concern for global insurers, according to Goldman Sachs Asset Management’s (GSAM) latest annual survey of industry executives

The BT Pension Scheme has completed two longevity reinsurance transactions, one with Swiss Re and the other with Reinsurance Group of America (RGA), totalling £10bn

A total of 299 defined benefit (DB) pension scheme buy-ins were completed in 2024, marking the largest ever number of transactions completed in a single year, analysis from Hymans Robertson has confirmed

The Bank of England (BoE) has opted to hold interest rates at their current level of 4.5%

Anglo American Services (UK) has completed a £785m combined buy-in with Legal & General Assurance Society (L&G) for three of its defined benefit (DB) schemes: The Tarmac UK Pension Scheme, the Tarmac ‘B’ Pension Scheme and the Anglo UK Pension Scheme

Towers Watson, a WTW business (NASDAQ), has appointed Jon Pliner as global chief investment officer (CIO)

China's Ping An reported a 47.8% rise in its net profit last year, driven by growth in its life and health insurance business as demand recovered

A consortium including Allianz, BlackRock and T&D Holdings will acquire ownership of Viridium Group (Viridium) from Cinven for around €3.5bn

European insurance M&A activity continued to increase in 2024 and record volumes were reached again, with 694 deals announced (compared with 574 in 2023 and 435 in 2022), an increase of more than 20%, FTI Consulting’s latest European Insurance M&A Barometer has revealed

M&G Group has seen its operating profit reach £837m in 2024, beating expectations set at £769m

The Financial Conduct Authority (FCA) has granted approval for Aegon Asset Management to launch the Carne Group Aegon Asset Management private credit Long-Term Asset Fund (LTAF), with Carne Group acting as the authorised corporate director of the fund

The 2024 annual sustainability report of Finnish earnings-related pension provider Elo shows "consistency is the key to sustainability," according to its chief financial officer, Sarianne Kirvesmäki

Pension Insurance Corporation (PIC) completed its largest ever total of new business premiums in 2024 at £8.1bn, according to its latest result for the 12 months to 31 December

Private infrastructure and private real estate saw the biggest year-over-year increases among alternative asset classes in relation to the percent of institutional investors planning to increase allocations, Nuveen’s Equilibrium Global Institutional Investor Survey has revealed

The Treasury has unveiled its plans to reform the regulatory system as it seeks to ensure that regulators and regulations support growth in the UK economy

Phoenix Group has announced a 31% jump in IFRS adjusted operating profit to £825m in 2024, up from £629m last year

The Church of Scotland Pension Trustees have completed a £75m multi-scheme buy-in with Just Group, insuring the benefits of 1,500 pensioner and dependent members and 850 deferred members

Higher government bond yields linked to increased defence spending are broadly positive for most European insurers, Fitch Ratings has said

Nordea has entered into a carbon removal agreement with the Norwegian company Inherit Carbon Solutions

Achmea has credited a strong performance in its pension and life business as one of several business areas that has helped boost its operational result for 2024 to €845m, a 35% increase on 2023

CNP Assurances has announced plans to obtain certification from the Forest Stewardship Council (FSC) for 100% of its forests by 2030

The reinsurance market in the Asia-Pacific (APAC) region is projected to be worth $68.4bn by 2029, according to new figures from GlobalData

Generali has posted a 14.9% jump in gross written premiums to €95.2bn in 2024, with strong growth in its life (19.2%) and P&C (7.7%) divisions

Climate considerations are becoming more material for asset owners, with a growing emphasis on climate-related risks and accountability, according to Morningstar Sustainalytics head of sustainable investing research, Hortense Bioy

Clearwater Analytics is to acquire Beacon and Blackstone’s Bistro to deliver investment intelligence across private markets

The Fuller’s Defined Benefit (DB) Pension Plan has secured a full buy-in with Legal & General (L&G), following recent funding improvements

Global assets jumped by $7.8trn in January and February, up 3.2% to a record $250.6trn by the end of February, but in March alone have already given up almost half their gains, shrinking by $3.4trn, according to Ocorian’s latest Global Asset Monitor

Legal & General (L&G) has reached expectations in its full-year results as the financial services group launched a new share buyback scheme of £500m for 2025

AM Best is projecting modest growth in capital and surplus of approximately $48bn for the US life/annuity (L/A) insurance industry over the combined 2024-2025 period, according to AM Best

Japan Post Insurance has signed a memorandum of understanding with KKR and its subsidiary, Global Atlantic Financial Group, to discuss a new investment in a reinsurance vehicle sponsored by Global Atlantic

Varma is on track to be carbon-free in heating and electricity across all its real estate investment properties by 2030, as it has now achieved this status in its residential properties

The A Gomez Limited Retirement Benefits Scheme has completed a £4.8m buyout with Aviva following a six-month process

China’s state-owned life insurers could inject over $14bn (CNY100bn) into the country’s equity markets if a Government directive requiring 30% of new premiums to be invested in stocks is fully implemented, new analysis by S&P Global Market Intelligence has revealed

An unnamed pension scheme has completed a £361m full scheme buy-in transaction with Canada Life, covering over 850 deferred members and approximately 650 pensioners

Resolution Life has announced the signing of a $9.7bn reinsurance transaction with Protective Life Corporation’s (“Protective”) insurance subsidiaries

Just Group has reached its target of doubling its profit two years earlier than planned, with the firm stating that it had "created substantial shareholder value as a result"

The European Commission (EC) and the European Investment Bank (EIB) Group are partnering with Europe’s national promotional banks (NPBs) and international financial institutions (IFIs) to develop new financing opportunities for affordable and sustainable housing across Europe

Talanx Group is investing double-digit millions of euros in expanding solar and wind energy capacity in Austria’s Burgenland region

Beazley has posted a record pre-tax profit of $1.4bn for 2024, a 13% increase on last year

The recent Solvency UK reforms mean that insurers can benefit from any additional risk-adjusted spread available on sub-investment grade (SIG) assets, particularly for UK productive assets and investments that support the net-zero transition, a new paper launched by Hymans Roberton in partnership with L&G has outlined

The Inchcape Motors Pension Scheme has completed a £505m buy-in with Legal & General (L&G) Assurance Society, covering the benefits of 2,295 retirees and 5,890 deferred members

abrdn has announced it is rebranding to Aberdeen Group and will use the name Aberdeen as its principal trading identity for its investments and adviser businesses

The Careers Research and Advisory Centre (CRAC) Pension Scheme has secured a £2.8m full scheme buy-in with Just Group, insuring the benefits of 30 deferred members and 10 uninsured pensioner members

Brookfield Wealth Solutions has announced plans to enter the UK insurance market, with a specific focus on delivering bulk purchase annuity solutions for UK pension schemes

Finnish pension insurance company, Veritas, made a return of 8.4% on its investments in 2024, equivalent to €4.8bn

Aviva’s retirement sales increased by 33% in 2024 to £9.4bn, its full-year results have revealed

Insurance and Pension Denmark (I&P Denmark) has said it is ‘available’ for dialogue with authorities to support the climate-proofing of Denmark

Varma has published its first sustainability report as part of its 2024 annual report

Schroders has been appointed by Utmost Life and Pensions (ULP) as a key partner to manage almost £400m of its annuity book

Andy Briggs, CEO of Phoenix Group, is the new president of the Association of British Insurers (ABI)

An unnamed UK-based asset manager's pension scheme has completed a £111m bulk annuity purchase (BPA) transaction with M&G, securing the benefits of 466 pensioners and deferred members

Schroders Capital has announced the appointment of Vikram Bhandari to the newly created role of head and chief investment officer (CIO) of Schroders Capital Solutions

PIC has invested £50m with Peel Ports Group

The trustee of the Photo‑Me International Plc Pension and Life Assurance Fund has completed a buy-in with L&G, securing defined benefit (DB) pension benefits for certain members of the fund

XPS Pensions Group has announced that it has agreed to acquire UK insurance consultancy business Polaris Actuaries and Consultants Limited

The 1973 Pension & Assurance Scheme of The Boys’ Brigade has secured a £4.5m full scheme buy-in with Just Group, insuring the benefits of 49 members, comprising 15 deferred members and 34 pensioner members

Octopus Investments (Octopus) is launching a private debt offering, as it looks to meet the needs of today’s institutional investors by unlocking private capital to solve the world’s greatest challenges

Pacific Life Re has announced the successful completion of a €2bn longevity swap reinsurance agreement with Nationale-Nederlanden (NN Life) in the Netherlands further broadening its geographical footprint

Nippon Life has purchased more foreign bonds since October and may keep buying them this year, given the impact of US President Donald Trump, the firm's top investment officer has said

Zurich Insurance Group has reported record financial results for 2024, with significant growth across its core businesses

Scottish Widows grew its workplace pensions assets under administration (AuM) by 17%, to £108bn, in 2024

UK inflation increased to 3% in the year to January, the highest rate since March last year, the Office for National Statistics (ONS) has revealed

Over half of US institutional investors (58%) require or plan to require asset managers to provide portfolio-level exposure to financially material ESG risks, along with impact and thematic reporting, according to Cerulli

Sixty-five per cent (£178bn) of assets held by participating firms providing bulk and individual annuities were invested in the UK in 2023, new data from the ABI has revealed

The Geoghegan & Company Staff Pension Scheme has completed a £1.5m full scheme buy-in with Just, securing the benefits of all eight deferred members and eight pensioner members

Backing for the UK Stewardship Code has continued to grow over the past year, as the Financial Reporting Council (FRC) confirmed that there are now 297 signatories to the code, representing £52.3trn in assets under management

Mercer is to acquire SECOR Asset Management

Skandia, the Swedish insurance company, has reported a "stable" 2024 performance, which it said has continued to "satisfy" customers

The Deutz Retirement Benefits Plan has completed a £16m buy-in with Just, securing the benefits of 181 scheme members, including 70 deferred members and 111 pensioners

Finnish pension insurance company, Ilmarinen, achieved an investment return of 8.6% in 2024, alongside a "significant" cut in the carbon intensity of its pension investments, its latest update has revealed

An unnamed UK pension scheme has completed an £18m buy-in with Utmost, fully insuring the benefits of over 270 members of the scheme

The trustee of the Low & Bonar Group Retirement Benefits Scheme (Low & Bonar GRBS) has completed a £50m full buy-in with Just, covering all remaining uninsured members of the scheme

The European Insurance and Occupational Pensions Authority (EIOPA) has launched a consultation on its Opinion on Artificial Intelligence governance and risk management, which provides supervisors and insurance undertakings guidance on how to interpret and implement insurance sector provisions in light of the use of AI systems in insurance

European insurers’ outsourcing of investment management to external (non-captive) managers has continued to grow steadily from 2019 to 2024, with AuM increasing from €1.2trn in 2019 to almost €1.4trn in 2024, according to a new report by Novantigo

Twelve Capital and Securis Investment Partners have merged to create, Twelve Securis, a global leader in the field of Insurance-Linked Securities (ILS)

Pension Insurance Corporation (PIC) CEO, Tracy Blackwell, has informed the board of her intention to retire, having served almost 20 years with the company

The Finning Pension Scheme has secured a £250m bulk purchase annuity (BPA) buy-in with Standard Life, covering the benefits of all 2,170 scheme members

US insurers’ inflation concerns have faded as the domestic political environment has replaced it as their top investment portfolio worry, according to Conning’s annual Insurance Investment Risk survey conducted in November 2024

Taiwan is aiming to get more than $1.5bn in investment from insurance funds to help finance the island’s green energy transition as part of its climate change and carbon reduction goals, Environment Minister Peng Chi-ming has said

Egypt’s Financial Regulatory Authority (FRA) has issued Decision No. 2 of 2025, introducing new investment rules and ratios for the funds of insurance and reinsurance companies

The BAL section of the Tui Group UK Pension Trust has completed a £370m buy-in with Legal & General (L&G) Assurance Society, meaning that all section benefits are now fully secured

1970 Group, a specialised risk financing provider to the insurance industry with expertise in structured financing, credit support, and risk management, has announced a significant growth capital investment from Bain Capital

China has launched a pilot program allowing 10 insurance firms to invest in gold as part of their medium-to-long-term asset allocation strategies because of low interest rates, shrinking investable assets, and rising gold prices

Nippon Life has joined the alliance of TISFD (Taskforce on Inequality and Social-related Financial Disclosures), an international initiative for information disclosure related to inequality and social issues

Isio has completed its acquisition of K3 Advisory (K3), the insurance and risk settlement specialist, after receiving regulatory approval

The Financial Reporting Council (FRC) has launched a consultation on proposed revisions to the UK Stewardship Code, including changes to amend the definition of stewardship and reduce industry reporting requirements

L&G has sold its US protection business to Japanese life insurer, Meiji Yasuda, and announced the creation of a long-term strategic partnership between the two for $2.3bn

K3 Advisory, in partnership with Cartwright, has announced the completion of five small scheme buy-ins, with all five transactions insured by Just Group

All signatories to the Sustainability Principles Charter for the bulk annuity process have agreed to adopt the Bulk Annuity Sustainability Survey (Bass), replacing the multiple different surveys currently used by different advisers

US insurance companies have reported a small YOY decrease in other long-term investments reported on Schedule BA, to $533.7bn in BACV to year-end 2023, compared to $534.8bn at year-end 2022

The Bank of England (BoE) has cut interest rates from 4.75% to 4.5% in its first decision on the base rate in 2025

The Green, Social, and Sustainability (GSS) bond market reached its highest point in three years – with issuances hitting just under $1trn ($966bn) in 2024, according to the latest quarterly GSS report by MainStreet Partners

Franklin Templeton has appointed Alexandre Mincier as head of insurance EMEA

US insurers reported exposure to securities associated with securities lent totalled almost $48bn in book/adjusted carrying value (BACV) at year-end 2023, pursuant to disclosures held under securities lending agreements, and represented a 7% decrease from about $52bn at year-end 2022

L&G has raised £510m for its affordable housing investment strategy as part of the second close of its Affordable Housing Fund, aimed at tackling the UK’s housing crisis head on

Efforts to address the climate crisis and boost growth in the Global South and at home will be enhanced under a partnership approach between the UK Government and the UK financial sector

The Financial Services Compensation Scheme (FSCS) Pension Scheme has completed a £25m full buy-in with Pension Insurance Corporation (PIC), securing the benefits of all 154 members, including 37 pensioners and 117 deferred members

Lufthansa UK Pension Trustee Limited has secured a £120m agreement with Royal London, which insures Lufthansa Group’s three UK defined benefit (DB) pension schemes in one integrated transaction

Aon has urged UK bulk purchase annuity (BPA) insurers to focus on key industry priorities in 2025 to ensure the continued delivery of “attractive and robust” insurance solutions

Risks in the European insurance sector are stable and overall at medium levels, with pockets of vulnerabilities stemming from market volatility and shifts in real estate prices, EIOPA’s January 2025 Insurance Risk Dashboard has revealed

EIOPA has published its final technical advice to the European Commission on the standard formula capital treatment of insurers’ direct exposure to qualifying central clearing counterparties (CCPs)

EIOPA has published its technical advice on the implementation of the new proportionality framework under Solvency II, requested by the European Commission

Folksam Group has adopted new climate targets to reach net-zero emissions in its asset portfolios by 2050

The global market value of eight of the largest asset classes reached a record $246.8trn at the end of 2024, analysis from Ocorian has revealed

The life insurance sectors of Germany, Italy and France are adequately capitalised overall, with French insurers enjoying an advantage over their Italian and German peers, according to Moody’s Capital Tool (M’CT)

Nordea Liv has delivered its “best ever” result in 2024 with a profit of NOK 1,722m, before tax, an increase of almost 40% on its 2023 result

The Colthrop Board Mill Pension Scheme has completed a £23m buy-in with Aviva, securing the benefits of 69 deferred members and 152 pensioners

Phoenix Group’s retirement solutions and asset management divisions are to come together to create a new business unit, following the decision of Standard Life CEO, Andy Curran, to retire in the summer

The illiquidity premium is growing in importance as a driver of investments into private markets among institutional investors, according to new research, with 73% of investors also expecting private to outperform public markets over the next five years

The Bank of England (BoE) has announced that applications are now open for the Contingent Non-Bank Financial Institution (NBFI) Repo Facility (CNRF), which will lend to insurance companies, pension schemes and liability driven investment funds in times of severe gilt market dysfunction to help maintain financial stability

Bermuda’s insurance market will have a “meaningful share” of insured losses from the recent California wildfires for both primary business and reinsurance, Fitch Ratings has warned

ICG Real Estate (ICGRE), a division of alternative asset manager, ICG, has provided a £63m loan to a joint venture vehicle linked to PIC

The UK’s bulk annuity market is set for “continued development and innovation” in 2025, Aon has stated, amid high demand from UK pension schemes

The Sanofi Pension Scheme has completed a £1.4bn buy-in with Legal & General (L&G) Assurance Society Limited, securing the benefits of 4,900 retirees and 5,600 deferred members

The UK defined benefit (DB) pensions de-risking market is likely to see £50bn in bulk annuity transactions and £20bn in longevity swaps in 2025, according to analysis from WTW

Prudential Financial has agreed to reinsure a portion of its recently originated Japanese whole life policies with a subsidiary of Prismic Life (Prismic), a Bermuda-based life and annuity reinsurance company

The UN’s International Fund for Agricultural Development (IFAD) has issued its 10th sustainable bond for SEK 900m under its Sustainable Development Finance Framework to Swedish pension investors Skandia and Kåpan

The Rockwool Limited Penson Scheme has completed a £53m full-scheme buy-in with Royal London

China is to guide large state insurers and commercial insurance funds to channel hundreds of billions of yuan of investment into shares as part of the Government’s efforts to support its struggling stock market

Ping An’s subsidiary, Ping An Bank, has provided a RMB2.3bn loan to Yulin Chemical, to support its Coal Clean and Efficient Conversion Demonstration Project, which promotes cleaner and more efficient coal processing, aligning with China’s low-carbon development goals

The German Insurance Association (GDV) has welcomed the European Commission’s initiative to simplify sustainability reporting through the planned Omnibus Simplification Package

Insurance companies are expected to deepen their ties with private credit, Moody’s Ratings has said

Two distinct camps are emerging among institutional investors concerning their perceptions of active ETFs, according to latest research, with 27% being ‘early adopters’ and 73% being ‘considerers’

Nearly all (93%) UK and European institutional investors, including insurance companies, have expressed significant unease over the future of sustainability practices under a Trump presidency, research from Pensions for Purpose has revealed

BPCE and Generali are to create the largest asset manager in Europe by revenues

Scottish Widows has announced a new strategic partnership with Robeco to take its responsible investment approach to the next level

PRA CEO, Sam Woods, has written to UK Prime Minister, Kier Starmer, declaring the regulator’s strong support for Labour’s growth goal

Generali Investments and MGG Investment Group have agreed for Generali Investments’ subsidiary, Conning & Company, to acquire a majority stake in MGG and its affiliates

Achmea is investing €50m in the new Achmea Dutch Residential Impact Fund (ADRIF)

Reinsurance Group of America (RGA) has made a strategic investment in PACT Capital, an independent investment firm focused on providing capital and strategic support to middle market alternative asset managers

Just Group’s illiquid asset origination increased by 40% to £2.4bn for the year ended 31 December 2024, its latest business update has revealed

A new research report by the Geneva Association, Insurance in a Fragmented World Economy, has explored the implications of reduced globalisation, or ‘slowbalisation’, for re/insurers and strategies for companies to adapt to evolving risks

EIOPA has issued a recommendation to Bulgaria’s Financial Supervision Commission (FSC) urging the supervisor to review its supervisory processes regarding the assessment of (re)insurers’ solvency positions

Holophane Retirement Benefits Scheme has completed a £24m buy-in with Pension Insurance Corporation (PIC), securing the pensions of 95 pensioners and dependants and 74 deferred scheme members

The Net Zero Asset Managers Initiative (NZAM) is suspending activities to track signatory implementation and reporting

Schroders Capital has announced the promotion of Peter Lowe to head of UK real estate investment

South Korea’s financial companies had an outstanding balance of KRW56.3trn in overseas real estate investment as of end-June 2024, down KRW0.7trn from three months earlier, figures published by the Financial Supervisory Service (FSS) have revealed

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has acquired a 23.08% stake in Saudi Re by way of a capital increase and subscription to new shares, with the suspension of pre-emptive rights in accordance with Capital Market Authority (CMA) regulations

The Danish Government's new bill is expected to make it more attractive to "invest green", by making it possible for pension funds and insurance companies to own and operate forests through a subsidiary, Denmark's Forsikring & Pension (F&P) has said

The Prudential Regulation Authority (PRA) has outlined how it expects bulk purchase annuity (BPA) insurers in the UK to manage increased growth and complexity in the market, including on the use of funded reinsurance

Aviva Investors has announced the appointment of Gita Bal as head of fixed income research

BlackRock is leaving the Net Zero Asset Managers initiative after coming under pressure from Republican politicians over its support for “woke” climate policies

Insurance and financial services group, Nassau Financial Group, and Golub Capital, a credit asset manager, have closed their strategic partnership, with the former receiving a $200m minority non-voting common equity investment from the latter

The Compass Group Pension Plan has secured a £1.5bn buy-in with Standard Life, covering the benefits of over 14,000 pensioner members and 11,000 deferred members

Aon has partnered with Moody’s to provide insurance and risk management solutions for clients

Lloyd’s of London CEO John Neal will leave in 2025 to join Aon

Utmost Life and Pensions has confirmed its successful entry into the bulk purchase annuity (BPA) market

US insurers’ exposure to asset-backed securities (ABS) and other structured securities increased by 9% in 2023 to a total of $626bn in book/adjusted carrying value (BACV), according to latest figures published by the NAIC

The UK insurance sector could be given the green light to invest in riskier assets without formal prior approval, the Bank of England has said

Ludovic Subran has been promoted to chief investment officer (CIO) of Allianz

C&J Clark Pension Fund has completed a £540m buy-in with Pension Insurance Corporation (PIC), securing the pensions of almost 5,000 pensioners and dependants and over 3,000 deferred policyholders

Lovell Minnick Partners has signed an agreement to make a strategic growth investment in Broadstone, which is expected to enable the company to broaden its client offerings

Aspen Insurance has signalled plans to list in New York, delivering a fresh blow to London’s stock market

Mesirow has acquired Bastion Management, an asset-backed specialty finance lender, as part of its strategic expansion of the firm’s alternative investments capabilities

Life insurance provider, the OneFamily Group, has joined the ABI

Insight Investment has appointed Raman Srivastava as CEO designate, reporting to Joe Minaya, global head of BNY Investments and Wealth

Nippon Life intends to commit up to $3.25bn to TCW private credit strategies in order to expand the asset manager’s business and to strengthen the insurer’s investment capabilities

Achmea Investment Management (Achmea IM) has completed the acquisition of Blue Sky Group Asset Management

The European Insurance and Occupational Pensions Authority (EIOPA) has removed several previous guidelines in relation to Solvency II and the IORP II Directive to avoid overlaps and duplicates with the Digital Operational Resilience Act (DORA)

The UN-convened Net-Zero Asset Owner Alliance (NZAOA) has released a new paper emphasising the critical role of top-down regulatory mandates in overcoming data and disclosure challenges related to Scope 3 emissions

The trend of US life insurers partnering with alternative investment managers (AIM) via offshore sidecars and reinsurance platforms will persist, with positive and negative credit implications for rated issues, Fitch Ratings has said

The General Council of the Bar (GCB) Pension and Life Assurance Fund has completed a £20m buy-in with Pension Insurance Corporation (PIC), covering the benefits of 103 members

The UK pension risk transfer (PRT) market is set for a "vibrant year" in 2025, according to LCP, as the number of transactions is expected to surpass 300 for the first time

The Glasgow Financial Alliance for Net Zero (GFANZ) is making adjustments after several high-profile insurers, asset managers and banks opted out

As 2024 draws to a close, we have rounded up the most read news stories on Insurance Asset Management over the last 12 months

Chesnara has reached an agreement with Canada Life UK to acquire a closed portfolio of unit linked bonds and legacy pension business with approximately 17,000 policies and £1.5bn in total assets under management

MEAG, the asset manager of Munich Re, has increased its forestry investment in Finland by acquiring an estimated 5,900 hectares of sustainably managed Finnish forests

Aviva has finalised its agreement to buy insurance rival Direct Line in a deal worth up to £3.7bn

The trend of US life insurers partnering with alternative investment managers (AIMs) via offshore sidecars and reinsurance platforms is set to persist, according to Fitch Ratings

Generali has completed the sale of its 99.99% stake in its Turkish business, Generali Sigorta A.Ş., to Kiler Holding A.Ş

The trustees of the Airways Pension Scheme have agreed a £340m longevity swap with Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, and Zurich Assurance

Allianz has withdrawn its pre-conditional voluntary cash offer to acquire at least 51% of the shares in Singapore-based Income Insurance

The Bank of England has confirmed it is holding its base rate at 4.75% in its final decision on interest rates in 2024

Belgian insurer Ageas has agreed a deal with UK-based insurance group, Saga, which will see Ageas UK acquire Saga’s insurance underwriting business

Folksamgruppen has invested SEK 3bn in the Copenhagen Infrastructure Growth Markets Fund II

The G R Wright & Sons Ltd Pension & Assurance Scheme has completed a £4m full scheme buy-in with Just Group, securing the benefits of all 13 members

European insurers are well positioned to deal with the consequences of a further escalation of geopolitical tensions, however, the capital and liquidity they would need to draw on to cope with such adverse shocks is substantial, EIOPA’s 2024 Insurance Stress Test has revealed

US insurers’ exposure to collateralised loan obligations (CLOs) increased to $271.2bn in BACV at year-end 2023, representing a 9.5% increase from $247.7bn at year-end 2022

Admiral Group has announced that its subsidiary, Admiral Insurance (Gibraltar) Limited, has invested into Schroders Capital’s Junior Infrastructure Debt Europe Fund III (JULIE III)

The bulk annuity market saw “significant” shifts in market dynamics in 2024, including the emergence of new entrants, increased capacity to meet demand, and evolving insurer priorities, DLA Piper has said

The Hunt Brothers and Company Limited Pension Fund has secured a £1.4m full scheme buy-in with Just Group, covering the benefits of eight pensioner members

The Tennants Consolidated Limited Pension Scheme has completed a £102m full scheme buy-in with Royal London, covering 463 pensioners and 241 deferred members

Varma has committed €2.3bn to a tailored exchange-traded fund (ETF), making it the largest ETF investment of its kind in the world

Insurers and occupational pension funds are “well-positioned” to absorb potential economic shocks, according to the latest analysis from the European Insurance and Occupational Pensions Authority (EIOPA)

Large UK life insurers would have to report their liquidity positions daily during market crises under new rules proposed by the PRA, after the regulator identified information gaps during recent market turmoil

Sun Life has appointed Ping An CIO Benjamin Deng as President of Asia Asset Management, a newly created role, effective 1 January

MetLife and General Atlantic have announced the formation of Chariot Re, a to-be-registered Class E Bermuda-based life and annuity reinsurance company

Allianz has established a new independent strategic reinsurance platform called Sconset Re, which will be capitalised through equity investments from institutional partners

Japan’s Nippon Life is to acquire Resolution Life in a deal valued at $8.2bn

Forty per cent of insurance general accounts expect to increase allocations to ETFs, while a net 25% expect to decrease allocations to mutual funds, new research from Cerulli has found

Strong activity levels and improved communications for members at-retirement in the bulk purchase annuity (BPA) market are set to continue in 2025, according to industry experts

More than half of institutional investors in Europe and Asia have not yet spoken to any of their asset management providers about how managers are implementing AI into their businesses and investment processes, new research by Coalition Greenwich has revealed

AllianceBernstein (AB) has appointed Bob Sharma as head of insurance, EMEA & APAC, client group

The Hays Pension Scheme has completed a £370m buy-in with Pension Insurance Corporation (PIC), covering the benefits of 853 pensioners and dependents and 3,368 deferred members

Chelsea FC owner, Todd Boehly, has set up a $74bn asset manager and insurance holding company, capitalising on the investment industry’s push for scale and consolidation

a.s.r. has made a change to its policy on responsible investments, allowing investments in Dutch companies or activities related to the defence industry under strict conditions

Dutch mortgage funds received €2bn in new investments from institutional investors such as insurers and pension funds in the first three quarters of 2024, De Nederlandsche Bank (DNB) figures have shown

Invesco has announced the appointment of Joe Steidl as head of UK insurance distribution

EIOPA has launched its second series of consultations regarding its proposed report on biodiversity risk management, as well as on five legal instruments to reflect the changes expected to be introduced to the regulatory framework as part of the Solvency II review process

Evermill Capital, a new investment manager specialising in asset-backed financing solutions, has formally launched today

Transition risks because of a disorderly transition to net-zero could affect European insurance company investment returns by up to 13% in the short term, while longer term physical risks resulting from a lack of action could result in declines of up to 23% by 2050, Ortec Finance has warned

Varma is to invest €500m in a tailor-made ETF fund listed on the Tokyo Stock Exchange that takes climate impacts into account

The Avimo Pension Scheme has completed a £50m buy-in with Rothesay, securing retirement benefits of all 611 scheme members, including 416 pensioners and dependants and 195 deferred members

The total value of buy-in and buyout transactions completed in the third quarter of 2024 reached around £20bn, marking the largest volume of transactions in the third quarter of any calendar year, according to analysis by Hymans Robertson

Mirova has decided to group together its energy transition infrastructure, natural capital and private equity businesses on a single platform dedicated to real assets

The trustee of the Merchant Navy Ratings Pension Fund (MNRPF) has agreed a £450m longevity swap with Metropolitan Life Insurance Company (MetLife)

A limited number of the world’s largest insurers and pension funds representing over £17trn in assets are utilising their influential position to drive climate policy advocacy in line with science-based pathways to net-zero, new analysis has found, and the majority are abdicating responsibility in this area

Schroders has announced plans to adopt the Financial Conduct Authority’s (FCA) Sustainability Disclosure Requirements (SDR) labels across 10 of its funds

UK non-bank resilience to market shocks has increased in a number of sectors and firms over recent years, according to the BoE’s system-wide exploratory scenario (SWES) exercise, but some of that resilience could deteriorate or change over time, risking greater amplification by the financial sector in the future

KION Group has completed a £250m full scheme buy-in transaction with Canada Life, securing the benefits of over 3000 members and covering five different UK defined benefit (DB) pension schemes within the group

Private equity’s advance into the insurance sector exacerbates the risk of “fire sales” that disrupt the functioning of financial markets, the BoE has warned

Geopolitical risks could eat up 95% of European insurers’ capital surplus, S&P Global Ratings has warned

The winners of the Insurance Asset Management Awards 2024 were announced last night at a gala ceremony in London.

Over half (57%) of professional investors have stated that their current fixed income allocation is underweight, Managing Partners Group (MPG) has revealed

The trustees of the Mitchells & Butlers Executive Pension Plan (MABEPP) have agreed a full scheme buyout with Legal and General Assurance Society Limited, the group's latest annual accounts have revealed

Blackstone and Santander Corporate & Investment Banking have announced an agreement under which funds managed by Blackstone Credit & Insurance (BXCI) will acquire interests in a $1bn portfolio of high-quality infrastructure loans from Santander

The Financial Conduct Authority (FCA) has been branded “incompetent at best, dishonest at worst” in a new Parliamentarian report

The Wednesbury Pension Scheme has completed a £43m buy-in with Just Group

The National Grid Electricity Group part of the Electricity Supply Pension Scheme has completed a £1.7bn buy-in with Aviva

An unnamed UK pension scheme has agreed a £500m bulk purchase annuity (BPA) transaction with M&G, in what is thought to be the market's first BPA deal to share value with a corporate sponsor

The world’s largest 100 asset owners now hold a record $26.3trn in total assets, new research by the Thinking Ahead Institute (TAI) has revealed

European insurers’ ratings will not be affected by the capital surcharges on fossil fuel-related assets recently proposed by EIOPA, Fitch Ratings has said

The European Insurance and Occupational Pensions Authority (EIOPA) “stands ready” to implement and enforce regulations where needed and to flag areas requiring further action that are not within its current mandate, according to EIOPA chairperson, Petra Hielkema

Eight in 10 (80%) asset and wealth managers expect disruptive technologies, such as AI, to fuel revenue growth, with those moving quickly to adopt ‘tech-as-a-service’ seeing a potential 12% boost to revenues by 2028, according to analysis from PwC

L&G has completed $2.2bn of US PRT business in the year to date, representing its largest year ever

South Korea’s general insurance industry is set to be worth $33.3bn in five years, new estimates from GlobalData have indicated

Reinsurance Group of America (RGA) has entered into a new $5.4bn reinsurance agreement with Manulife

The New Crown Motor Sales Limited Staff Pension Scheme has completed a £2.2m buy-in with Just Group, securing the benefits of 36 members

Industrial Alliance Portfolio Management (IAPM) has selected Clearwater Analytics to enhance its performance attribution and risk analysis capabilities

Around 70% of institutional investors globally invest in infrastructure or plan to do so in the near future, according to a study by Coalition Greenwich

Aegon UK’s head of responsible investment, Hilkka Komulainen, has announced that she is stepping down

Gresham House has appointed Eoin McDonald as director of global natural capital to drive further development of its natural capital solutions strategy globally

Fifty per cent of UK asset owners are either already investing in natural capital or will do so within the next 18 months, as they become increasingly aware of its potential to deliver resilient, impactful returns, a new report commissioned by Gresham House has revealed

Transition risk losses alone are unlikely to threaten EU financial stability, the latest climate scenario analysis conducted by the European Supervisory Authorities (ESAs) and the ECB has revealed

Global life insurance premiums are forecast to grow at an annual rate of 3% in 2025 and 2026, more than double the rate of the past ten years, according to the Swiss Re Institute

Insurance companies are the leader in AI adoption when compared to other institutional investors, research published by Schroders has revealed

Insurance Asset Management is pleased to announce the launch of the Insurance Asset Management Summit, to be held at Lingfield Park Racecourse on 25-26 March 2025

Philippines’ Insurance Commission has imposed new risk charges relating to investments in infrastructure projects by re/insurers under the Philippine Development Plan (PDP)

The Indian Government is set to implement major insurance sector reforms, which include permitting 100% foreign direct investment (FDI) and introducing more flexible regulations for insurance agents

The PRA has published Policy Statement 15/24 finalising its rules and policy materials that will replace Solvency II assimilated law

Aviva has reported a 15% jump in general insurance (GI) premiums to £9.1bn through nine months of trading, as the insurer announced a Q3 of strong delivery and profitable growth

The United Nations-convened Forum for Insurance Transition to Net Zero (FIT) has launched the first-ever global guide on transition plans for insurance companies at the 2024 UN Climate Change Conference (COP29) in Baku, Azerbaijan

The International Association of Insurance Supervisors (IAIS) executive committee has approved the final version of the Insurance Capital Standard (ICS) as a prescribed capital requirement for internationally active insurance groups (IAIGs), which will be recommended for adoption at the IAIS Annual General Meeting on 5 December 2024

Swiss Re has reported a net income of US$2bn and a return on equity (ROE) of 13.4% for the first nine months of the year, according to its latest financial results

The Walkers Shortbread Limited Retirement Benefits Scheme has completed a £34m buy-in with Legal and General (L&G), securing the benefits of 161 retirees and 238 deferred members

A group of institutional investors is calling on the European Parliament to reject a proposed delay of the European Union Deforestation Regulation (EUDR)

Swedish occupational pension and life insurance companies made a return of 7.4% on their investments in the first three quarters of 2024, according to statistics from Insurance Sweden

The trustee of the G4S Pension Scheme has completed a £1.8bn full buy-in with Just Group, covering the benefits of around 22,500 members

An unnamed defined benefit (DB) pension scheme has completed a £20m buy-in with Utmost Life and Pensions

UK insurers share a "strong appetite" for continued UK investment through their pension books, although a lack of market opportunities could be limiting their ability to invest, according to a report from DLA Piper

Dutch financial institutions must “look beyond” the countries in which they are invested as they are “vulnerable” to geo-economic fragmentation through the value chains of the firms in which they invest, according to De Nederlandsche Bank (DNB) director of monetary affairs and financial stability, Olaf Sleijpen

Asian institutional investors are laying out plans to shift portfolio assets to international debt and equity, and, to an even greater extent, to a list of alternative strategies ranging from private debt to hedge funds

An unnamed pension scheme in the mechanical and electrical industry has completed a £2m full buy-in with Legal and General, securing the benefits of 16 pensioners and 3 deferred members

EIOPA is consulting on mass-lapse reinsurance and reinsurance termination clauses to enhance guidance on risk mitigation techniques

The UK’s Financial Reporting Council (FRC) is proposing to amend the definition of stewardship in the launch of its Stewardship Code Consultation today

The Danish insurance and pension industry contributed DKK 18.3bn to the national treasury in 2024, according to Insurance and Pension Denmark (I&P Denmark)

The first half of 2024 saw a record number of bulk purchase annuity (BPA) deals completed, driven by a “surge” in smaller transactions, analysis from Aon has revealed

Natwest Group has agreed a buy-in transaction with a third party insurer, with around a third of the main section of its defined benefit (DB) pension scheme now covered by insurance policies

The Halma Group Pension Plan and the Apollo Pension and Life Assurance Plan have secured £250m of buy-ins with Standard Life, securing retirement benefits for 2,200 pension scheme members

The Atradius UK Pension Scheme has completed a £190m buy-in with the Pension Insurance Corporation (PIC)

EIOPA has published its final report on the prudential treatment of sustainability risks within Solvency II, recommending additional capital requirements for fossil fuel assets on European insurers’ balance sheets to accurately reflect the high risks of these assets

Beazley has reported steady growth in insurance written premiums and increased investment returns driven by favourable financial markets for the nine months ended 30 September