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A brand new Constancy Investments annuity reinsurance arm, Soteria Reinsurance, is getting nearer to opening its doorways.
The Pembroke, Bermuda-based firm lately employed Ari Lindner to be its president, and it’s now hiring a valuation actuary.
“Our mission is to empower our major reinsurance companions by way of circulation reinsurance to supply the absolute best annuity options,” SoteriaRe says on its web site.
Constancy stated earlier this 12 months that SoteriaRe will deal with reinsuring U.S. particular person fastened annuities and on offering the varieties of huge group annuities that employers use to switch defined-benefit pension plan danger to insurers.
Firm representatives weren’t instantly obtainable to speak in regards to the firm’s plans.
What it means: Large asset managers are nonetheless placing money within the life and annuity market.
Reinsurance: A reinsurer is an organization that, in results, insures the liabilities of an insurance coverage firm.
The historical past: Constancy has had Bermuda-based insurance coverage operations for many years.
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