BlackRock to manage $90bn of the AIG’s Life & Retirement investment portfolio.
MGA Blackrock Insurance Solutions has joined as a full member.
Blackrock is the latest in a series of MGAs SRG has acquired in recent months.
Insurers are facing a profitability squeeze and are increasingly looking to their investment portfolios as a larger component of profitability, according to a study commissioned by BlackRock.
The changing reinsurance model requires more vigilant modelling as the balance of risk tips towards the asset side.
ACE and fund manager Blackrock have officially launched ABR Re after raising $800 million of capital.
The joint venture between ACE and fund manager Blackrock, ABR Re, will seek to raise up to $1.3 billion of capital.
Innovative structures to facilitate third party capital seeking risk-linked investments will continue to emerge in 2015, before then also expanding into the primary market, Paul Schultz, CEO of Aon Benfield Securities, told Intelligent Insurer.
It looks increasingly likely that the much-anticipated deal between Ace and fund manager BlackRock will copy the sidecar-type arrangement used by so many reinsurers and ultimately generate fee income for Ace by underwriting third party risks – as opposed to the vehicle insuring Ace’s business only.
Acromas, the parent company of motor services company the AA, has received binding commitments of over £930 million from cornerstone investors ahead of its planned initial public offering (IPO) later this month.