2023 Life Reinsurance Survey

_{December 2024}

Munich Re Life US conducts an annual survey on behalf of the Society of Actuaries (SOA) Reinsurance Section that examines individual (volume) and group (premium) life reinsurance activity reported by traditional US and Canadian life reinsurers.

The survey results are based on financial information self-reported by reinsurers, including new business production and in-force figures broken into the following categories:

• Recurring reinsurance – Conventional reinsurance covering an insurance policy with an issue date in 2023.

• Portfolio reinsurance – Reinsurance covering an insurance policy with an issue date prior to 2023 that was reinsured during 2023.

• Recurring Retrocession reinsurance – Reinsurance not directly written by the ceding company (typically another reinsurer) with an issue date in 2023 (often considered to be “reinsurance of reinsurance”).

• New for the 2023 survey is Portfolio Retrocession reinsurance – Reinsurance of insurance policies with issue dates in a year prior to the year in which they were retroceded (for example, policies issued prior to 2023 but retroceded in 2023). 

Individual life results are based on submitted net amount at risk, while group life results are based on submitted premium. The figures are quoted in the currency of origin, with United States business provided in US dollars ($US) and Canadian business provided in Canadian dollars ($C). While all professional life reinsurers across North America are contacted to participate in the survey, it is important to note that there may be companies not represented in the results if they chose not to respond to the survey call for data.

Read the full article to view the results in more detail and examine overall life reinsurance trends.