Restructuring gathers pace as insurers look to improve capital efficiency

Evolutionary road

Choice of roads

The insurance industry is restructuring to adapt to an economic landscape transformed by the financial crisis. In recent months major insurance groups have been selling off business units or undertaking transactions to de-risk blocks of business.  

In April, US insurer Protective Life swooped in to buy the closed portfolios of Mony Life – a New York-based life insurance company – from Axa, the French insurance group, and reinsure a block of in-force policies written by a Mony subsidiary for $1

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