Overview of Reciprocal Insurance Exchanges and Recent Market Trends – November 2026
In the following report we explore the insurers within the RIE market (including new entrants to the industry), including financial performance metrics and factors driving current growth.
Annuity Surrenders Rise for U.S. Life Insurers – November 2026
In this report, ALIRT discusses the increased level of annuity surrenders, the potential risks of higher surrenders, and any offsetting factors to these risks.
Annual U.S. Surplus Lines Overview – October 2026
In this article, ALIRT analyzes the U.S. surplus lines insurance market, examining premium growth, profitability, and insurer financial strength through midyear 2026. The report explores how softening market conditions, expanding distribution channels, and the growth of fronting insurers are shaping the sector’s outlook.
Adding Suspenders to the Annuity Safe Harbor
ALIRT’s David Paul and co-author Tamiko Toland examine the SECURE Act’s annuity safe harbor and due diligence practices for retirement plan fiduciaries in the Journal of Pension Benefits. The full article, “Adding Suspenders to the Annuity Safe Harbor,” is available as a PDF.
U.S. Life Insurer Exposure to Alternative (Schedule BA) Investments – October 2026
This review analyzes alternative investments for U.S. life insurers. These assets offer an insurer the opportunity to diversify its investment portfolio, enhance returns (especially given the decline in fixed income yield rates over the last 40+ years), and acquire investments that are not necessarily correlated with the industry’s other investments.
Mortgage Loan Exposure for Life Insurers – 6M2026
While insurers continued to favor mortgage loans, weaker conditions in the commercial real estate market have developed, driven in part by higher borrowing costs and behavioral changes and disruptions related to the Covid-19 pandemic and its after-effects. In light of these developments, we examine the industry’s current exposure to mortgage loans and the potential risks.
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.