Evolving Life Reinsurance Market Keeps Focus on Stability

Even as financial markets rumble and cession rates fall, life reinsurers remain focused on stability.

The market has evolved dramatically in the past decade. While almost 10 companies used to write 85% of the business, today the top five players write 85% of the business. In addition to consolidation, life reinsurers have seen their piece of the pie shrink. Cession rates were at their lowest point of the decade in 2009, at 33.9%, down from 61.8% in 2000, according to an annual life reinsurance survey conducted by Munich Re on behalf of the Society of Actuaries.

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