Download Life Risk News Volume 4, Issue 1, January 2025

Happy New Year.

The life settlement industry regularly touts the lack of correlation to public equity and liquid fixed income markets and diversification benefits as two of the reasons why institutional, end investors should consider allocating capital to the asset class. Historically, however, that view has not had the benefit of being data-backed at the aggregate level – until now. Unlocking Value: Insights into Life Settlements Investment Trends is a new report from industry group the European Life Settlement Association, publisher of Life Risk News, and insurance asset management firm, Conning, that digs into the attitudes of investors, both positive and less so, towards the asset class. Greg Winterton spoke to Hanna Persson, Head of Sales at Ress Capital, and Chris Conway, Chief Development Officer at ISC Services, for their thoughts on the findings in New Report Provides Both Food for Thought and Positive Reinforcement for Life Settlement Market. 

The UK’s pension risk transfer market had a busy year in 2024, continuing the theme of the past few years. While the total aggregate value of the market last year will not be known for a few weeks, back in September, Legal & General predicted one in excess of £40bn, which would rank among the largest years for bulk purchase annuity deals in the country. Samantha Downes spoke to Kunal Sood, Managing Director of Defined Benefit Solutions at Standard Life, to get his views on some of the topics in the market in UK Pension Risk Transfer Market Posts Another Stellar Year. 

The higher interest rate environment of the past few years has had the impact of supporting activity in asset intensive life reinsurance transactions, in which the buyer onboards both the liabilities, which carry biometric/longevity risk, and the assets backing them. Greg Winterton spoke to Prannoy Chaudhury, Principal and Consulting Actuary at Milliman and Brian T. Casey, Partner at Troutman Pepper Locke, to get their thoughts on how busy this market can get in Activity in Asset Intensive Life Reinsurance Solutions to Remain Healthy. 

The prognosis for metastatic melanoma has improved dramatically in recent years with the introduction of immunotherapy and targeted therapy. Dr Rahul Nawander, Medical Director at Fasano Underwriting, explains more in Advancing Frontiers in Metastatic Melanoma: Innovations, Treatments, and Improved Survival Outcomes, a guest article. 

Last month, Roger Lawrence, Managing Director at WL Consulting, penned his first of three articles dissecting the 2024 edition of the ACLI’s Life Insurer’s Fact Book, and this month he returns with US Life Insurer Ownership, Size, and Solvency Trends Remains Consistent, our second guest article this month. 

The life settlement market, like many other alternative assets, has had to navigate its fair share of challenges in the past few years. Greg Winterton caught up with Ryan McTernan, Senior Managing Director at Fifth Season Investments, to get his take on the state of the space as we begin 2025 in this month’s Q&A.

When all is said and done, 2024 could end up delivering aggregate premium at or close to the US PRT market’s current banner year of 2022, where $51.9bn worth of deals was written in the space. Greg Winterton spoke to George Palms, President at LGRA and Erik Pickett, Actuary and Chief Content Officer at Club Vita for their thoughts on the space as we begin 2025 in US Pension Risk Transfer Market To Continue Bull Run in 2025 – and Beyond. 

As always, we hope you enjoy the latest issue of Life Risk News and wish you every success for 2025.