A brand new Constancy Investments annuity reinsurance arm, Soteria Reinsurance, is getting nearer to opening its doorways.
The Pembroke, Bermuda-based firm not too long ago employed Ari Lindner to be its president, and it’s now hiring a valuation actuary.
“Our mission is to empower our major reinsurance companions through move reinsurance to offer the absolute best annuity options,” SoteriaRe says on its web site.
Constancy mentioned earlier this 12 months that SoteriaRe will concentrate on reinsuring U.S. particular person mounted annuities and on offering the varieties of huge group annuities that employers use to switch defined-benefit pension plan threat to insurers.
Firm representatives weren’t instantly out there to speak concerning the firm’s plans.
What it means: Massive asset managers are nonetheless placing money within the life and annuity market.
Reinsurance: A reinsurer is an organization that, in results, insures the liabilities of an insurance coverage firm.
The historical past: Constancy has had Bermuda-based insurance coverage operations for many years.
