Annuity and Life Re (Holdings), Ltd. · Hamilton Bermuda
Company Description
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This link will open in a new window Bermuda: sun, sand, and reinsurance. In 1998 struggling Annuity and Life Re (Holdings) was the first life reinsurer to hang its shingle in the tax-sheltered haven of Bermuda. However, it has ceased writing new coverage and in 2008 dissolved Annuity and Life Re America, which was once the company's flagship subsidiary. Previously it covered term, whole, and universal life insurance policies. The company sold off its Annuity and Life Reassurance America subsidiary in 2007. Now, with only interest income, Annuity and Life Re (Holdings) has terminated all of its reinsurance treaties and is only paying out a few remaining claims against earlier policies. To read the full description, subscribe now.
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Annuity and Life Re (Holdings), Ltd. Reports
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Key Annuity and Life Re (Holdings), Ltd. Financials
| Company Type | Public Headquarters |
| Fiscal Year-End | December |
Annuity and Life Re (Holdings), Ltd. Executives
3 executives listed for Annuity and Life Re (Holdings), Ltd.'s Hamilton Bermuda location.
| Title | Name & Bio | Contact |
| Chairman | Martin Berkowitz | |
| President, CEO and Chief Actuary | William Mawdsley | |
| SVP, CFO and Secretary | John Lockwood |
Competition
Competitive Landscape for Annuity and Life Re (Holdings), Ltd.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Annuity and Life Re (Holdings), Ltd. Competitors
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