InEvo Re, a life reinsurer established by Macquarie Asset Management, has entered into a reinsurance agreement with a US-based life insurer covering about US$1 billion in long-dated liabilities.
This deal follows InEvo Re’s first UK transaction in March and marks a significant step in the company’s expansion into the US life and annuity market. The agreement also signals InEvo Re’s intent to build partnerships with key participants in the sector.
“We are delighted to be completing this transaction with an important strategic partner,” said Tim Humphrey, chairperson of InEvo Re. He added that the deal demonstrates the company’s ambition to scale and provide solutions as a reinsurer for life insurers and annuity providers globally.
InEvo Re is backed by Macquarie Asset Management’s global investment platform, which manages approximately US$588 billion in assets across real assets, real estate, credit, and equities. The company continues to focus on building relationships and delivering reinsurance solutions for life and annuity providers in the US and internationally.
Elsewhere, the reinsurance sector has seen several notable reinsurance transactions this year. Reinsurance Group of America (RGA) entered into an asset-intensive reinsurance agreement with Allianz Suisse, covering US$350 million of Swiss disability annuity liabilities. This structure is the first of its kind in Switzerland and is intended to strengthen Allianz Suisse’s capital position.
Allianz has also expanded its reinsurance footprint with Sconset Re in Bermuda, a platform established to reinsure a US$4 billion block of annuity liabilities and forward-flow between US$5 billion and US$10 billion of new business.
Meanwhile, the global reinsurance market in 2025 has remained stable, with moderate reductions in rates for property catastrophe reinsurance and retrocession markets. Pricing remains near historic highs, and contract terms have largely held steady, reflecting a market environment that supports both buyers and sellers.
The run-off sector has also continued to expand, with Bermuda playing a major role. Global non-life insurance run-off reserves reached a record US$1.129 trillion, according to PwC’s latest survey. This growth is attributed to both new business entering run-off and an increase in existing reserves, highlighting the sector’s expanding role in international insurance.
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