A.M. BestTV: U.S. Life/Annuity Insurers Step Up Use of Reinsurance, Says Best Director
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"Using reinsurance for risk management is certainly not a new concept; however, companies' enterprise risk management (ERM) programs have received a lot of attention in recent years," said Pargeans.
Pargeans addressed the potential of counterparty risk to primary writers given the top-heavy nature of the life reinsurance market.
"Diversification is always something that is looked upon favorably. After a wave of consolidations, there are five primary life reinsurers that absorb about 80% of the business that is presented to the life reinsurance market, so the counterparty exposure is concentrated in these five players. Nevertheless, those five players are very highly rated by
To access the full copy of this special report, titled, "Consolidation Narrows Reinsurance Options Despite Greater Reinsurance Risk Appetite for L/A Insurers," please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=269626.
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