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The SECURE Act
Let ALIRT help you implement a “best practice” approach to selecting annuity carrier partners as part of your fiduciary duty and safe harbor requirements.
BBB-rated Bond Exposure for Life Insurers
In this article, you’ll read about the significant increase in NAIC Class 2 bond holdings by U.S. life insurers since the 2008-2009 financial crisis, driven by a search for higher yields amidst
Fronting Companies Accredited and Sutton: A Tale of Two Troubled Parents
This ALIRT Research report explores the financial turmoil at the holding companies of Accredited and Sutton fronting insurers. Both companies faced significant challenges due to their parent companies’ financial distress, leading to
Annuity Surrenders Rise for U.S. Life Insurers
In this report, we discuss the increasing level of annuity surrenders, the potential risks of higher surrenders, and any offsetting factors to these risks.
Advantage Capital and the Fallout from 777 Re
In this report we explore ACAP’s relationship with 777 Re and the possible lingering ties that the ACAP life insurers may have to this now defunct reinsurer and its parent company 777
Financial Struggles Deepen for the Columbian Financial Group
The two life insurers of the Columbian Financial Group (CFG), Columbian Mutual Life Insurance Company (CML) and CML subsidiary Columbian Life Insurance Company (CLIC), experienced weak and deteriorating financial positions for many
Privately-Owned Insurers in the U.S. Life Insurance Industry
In the wake of the 2008/2009 global financial crisis, the U.S. life insurance industry underwent a spate of business sales/exits, spin-offs, and product changes in the 2010s which has continued through the
PHL Variable Insurance Company: Negative Surplus Position
PHL Variable Insurance Company’s (PHLV) filed its year-end 2023 regulatory financial statement in late April 2024, seven weeks after the required filing date of March 1. The company reported a negative surplus1
U.S. Life Insurer Exposure to Less Liquid Bonds
Life insurers have long held a mix of assets with various liquidity profiles, from the very liquid to the nearly illiquid. In this review we highlight some of the less liquid components
Trends in Individual Annuities
In this review, we concentrate on the recent changes in the annuity product landscape
ALIRT Research – Three Weddings (and a Funeral?)
It is commonly held that the present six-year hard market pricing cycle has been a boon for U.S. commercial lines insurers. And this is certainly true, generally. But we must not forget
ALIRT Industry Update: U.S. Life Review Nine Months 2023
Our six month 2023 financial highlights based on insurers’ statutory financial statements.
Badger Mutual Faces Severe A.M. Best Downgrade – Regional Property/Auto Insurers Under Pressure
The worsening plight of a number of smaller regional property & casualty insurers was on full display today as A.M. Best downgraded Milwaukee-based Badger Mutual Insurance Company (BMIC) three pegs from B+
Life Insurer Exposure to Alternative Investments
This review analyzes alternative investments for U.S. life insurers.
ALIRT Research – Fronting Insurers Update
Given the recent bombshell regarding fraudulent collateral issues at insurtech Vesttoo – a development which follows closely upon a $60 million collateral dispute write-down by Trisura in 4Q2022 – we provide below
Below Investment Grade Bond Exposure for Life Insurers
Below Investment Grade (BIG) bonds consist of all bonds rated BB+/Ba1 or lower by public rating agencies. In the statutory financial statement, there are four different “Classes” of BIG bonds (and their
Largest U.S. Surplus Lines Carriers Underperforming the Broader Commercial Lines Market
Last month, A.M. Best released its annual study of the U.S. surplus lines market. We thought this a perfect opportunity to review the financial quality of the largest domestic E&S insurers, per
More Trouble Ahead For U.S. Property Insurers? Heeding The Canaries In the Coalmine
ALIRT recently noted the substantial downgrade of Texas property insurer Germania Farm Mutual Insurance Association (GFMIA) followed closely by the liquidation of Kansas-based MutualAid eXchange (MAX). While we would normally not issue
Overview of Reciprocal Insurance Exchanges and Recent Market Trends
Reciprocal Insurance Exchanges (RIE; also referred to interinsurance exchanges) have long been a part of the property & casualty (P&C) insurance industry, with roots dating back to the late nineteenth century. Many
Privately-Owned Insurers in the U.S. Life Insurance Industry
In the wake of the 2008/2009 global financial crisis, the U.S. life insurance industry underwent a spate of business sales/exits, spin-offs, and product changes in the 2010s which has continued through the
Cracks Starting to Show? Fallout From Collateral Issues with Vesttoo
It’s tough times for the U.S. property & casualty (P&C) Industry. Tough times for insureds who confront ever higher rates in most lines of business, for (re)insurers which are struggling to right-size