U.S. Life Insurer Exposure to Affiliated Investments – September 2026
In this review, we discuss the history of affiliated investments for life insurance companies (including annuity issuers) and the changes in the composition of industry affiliated investments over the last 26 years. We frame the reasons these assets have grown for life insurance companies, with a focus on the rise in affiliated investments during the 2020s, as well as the benefits and risks associated with the growth in these assets.
Update: Delaware Life Insurance Company Restatement of Affiliated Investments Following U.S. Attorney Office Investigation – September 1, 2026
This review brings attention to some additional information and updates that came to light subsequent to our July 20th client letter and August 21st first additional update.
Update: Delaware Life Insurance Company Restatement of Affiliated Investments Following U.S. Attorney Office Investigation – August 21, 2026
This review brings attention to some additional information and updates that came to light subsequent to our July 20th client letter.
U.S. Life Insurers’ Reinsurance Activities – August 2026
While U.S. life insurers utilize reinsurance in many foreign jurisdictions, in this report we will focus on Bermuda in particular given the robust growth in Bermuda reinsurance among U.S. life insurers.
Residual Market Trends in Four States with Higher Catastrophe Risk – July 2026
In this report we show the multi-year experience of each residual market under discussion and touch upon the recent homeowners insurance experience of each state.
BBB-Rated Bond Exposure for U.S. Life Insurers – 2026
This report examines the growth of BBB-rated (NAIC Class 2) bond holdings across the U.S. life insurance industry and the factors driving insurers’ continued allocation to these investments. It also explores the implications for investment risk, capital requirements, and insurer financial strength in today’s evolving credit environment.
Delaware Life Insurance Company Restatement of Affiliated Investments Following U.S. Attorney Office Investigation
ALIRT examines the substantial restatement of affiliated investments reported by Delaware Life Insurance Company and Clear Spring Life and Annuity Company following government investigations. The review highlights the insurers’ planned remediation efforts, related rating actions, and potential financial and operational implications.
Privately-Owned Insurers in the U.S. Life Insurance Industry – Year-end 2025
In this report we explore some of the organizations that have acquired life insurers, review some recent transactions/acquisitions that involve privately-owned insurers, and analyze the difference in financial profiles of privately-owned life insurers as compared to the broader industry.
Life Insurance Industry in Transition: 2022-2026
In this report we detail some of the recent trends occurring in the U.S. life insurance industry and how life insurance/annuity organizations and regulators have responded.
Annuity Business Trends of the Last Few Years in the U.S. Life Industry
In this review, we concentrate on the recent changes in the annuity product landscape.