The transaction, first announced in February 2025, covers both US protection and pension risk transfer units, and will see the Japanese insurer also take a 5% economic stake in L&G itself.
Munich Re’s Epidemic Risk Solutions teams in London, Munich and Singapore will provide modelling and underwriting for the consortium, which aims to address insurance gaps revealed by the Covid-19 outbreak...
The company's minimum 90 day voluntary suspension of new sales begins on 9 February, as the insurer moves to implement governance and sales-practice reforms.
Despite a decline in the measurements of its capital, the insurer posted a 33.5% rise in net profit in 1H25, driven by higher investment income and growth in new business value.
The partnership's initial scope will cover IRBCF and IFRS 17 (Ind-AS), using a single consolidated platform to improve speed, scalability and controls.
The insurer posted JPY1 trillion (US$6.5bn) in core operating profit for FY ended 31 March 2025, but weaker unrealised gains on securities pulled its capital base down from last year's peak.
