NEW YORK–(BUSINESS WIRE)–#creditratingagency–KBRA releases new research examining the intersection of life/annuity insurers with asset managers. In early 2022, KBRA highlighted the challenges faced by insurers and the different solutions offered by private equity and alternative asset managers (PE/AAM), as well as the resulting growth in mergers and acquisitions (M&A) and reinsurance activity. Activity during that period also included acquired insurers and start-ups that were transformed into fast-growing annuity writers fueled by higher new business volumes. Since then, the types of transaction structures between investment firms and life/annuity insurers, participant profiles, and strategic rationales have broadened. KBRA believes these arrangements will continue to evolve, likely supporting long-term stability within the sector.
Key Takeaways
- As investment firms and life/annuity insurers continue to intersect, participant profiles and transaction rationales have evolved.
- Investment firm and insurer relationships are expected to remain integral to the industry’s future, driven by ongoing capital needs and the importance of robust investment management for life/annuity insurers.
- Despite potential long-term benefits across the sector overall, credit implications for individual insurers will depend on evolving capital needs, the insurance capabilities of the involved asset manager, and other strategic considerations.
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Recent Publications
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- Private Credit: Q3 2025 Middle Market Borrower Surveillance Compendium: Defaults Will Rise
- Private Equity Investment in the Life-Annuity Market Is Here to Stay
About KBRA
KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions.
Doc ID: 1013249
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