The U.S Life reinsurance market

The United States is regarded as the world’s leader in life reinsurance with RGA [4], at the top, accounting for 14.455 billion USD in gross premiums in 2017. In view of its high concentration, the American life reinsurance market is considered as very stable, unaffected by competition. Only 11 companies are significantly present, five of which control 80% of the market.

In recent years, SCOR group has invested heavily in the American life reinsurance market. In 2011, it bought out the mortality portfolio of Transamerica Re and in 2013 it acquired Generali US, a company specialized in life reinsurance. SCOR has, therefore, become one of the main life reinsurers across the Atlantic through SCOR Life US Group ⁽¹⁾.

Other groups of international renown are equally present on the market such as Hannover Life Reinsurance Co. of America, Swiss Re Life & Health America and Munich America Reinsurance. These reinsurers are endowed with a stable portfolio and an excellent capitalization. Their good results translate the pricing discipline that the leaders are imposing on the market.

Despite numerous upsides, the American market remains strained by the poor cession rate of local life insurance companies whose percentage has drastically declined in recent years.

U.S non-life reinsurance market: premiums 2017

Source : AM Best
⁽¹⁾ This entity includes SCOR Global Life Americas Reinsurance, SCOR Global Life Reinsurance Co. of Delaware and SCOR Global Life USA Reinsurance Co.