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Life on The Rock Life and Annuity Business in Bermuda

Life on The Rock Life and Annuity Business in Bermuda. June 2008. Life on The Rock. Moderator: Oliver Heyliger, Willis Panellists: Keith Ryan, Lincoln National Michael Smith, Wilton Re Bermuda. Life Products and their uses. Life Insurance Company Considerations.

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Life on The Rock Life and Annuity Business in Bermuda

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  1. Life on The RockLife and Annuity Business in Bermuda June 2008

  2. Life on The Rock Moderator: Oliver Heyliger, Willis Panellists: Keith Ryan, Lincoln National Michael Smith, Wilton Re Bermuda

  3. Life Products and their uses

  4. Life Insurance Company Considerations • Reinsurance of these Life Products • share the risk • share the capital burden • Capital Burden • regulatory capital requirements • regulatory reserving requirements • Term products (XXX) • Universal Life products (AXXX) • Offshore Solution • economic capital • best-estimate reserves

  5. Offshore Solutions • Offshore structures • captive • collateral obligations fall to primary company • third party reinsurer • collateral obligations fall to reinsurer • most Life reinsurers are structured with an onshore affiliate • forms of collateral • LOC – not so popular • “private” funding • securitization – (un)wrapped

  6. Other Notable Offshore Activities Private Placements (HNWI) Life Settlements Pension Insurance (UK)

  7. Thank You

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