US Life Insurers Have Shifted More General Account Risk Offshore
Vehicles travel along Front Street in Hamilton, Bermuda.
Photographer: Nicola Muirhead/BloombergUS life insurers have shifted more of their general account risk to entities abroad than in the US as of year-end, the first time that offshore reinsurance hubs have overtaken domestic ones for that business.
Deals to cut the risk of US life insurers’ general accounts with offshore entities represented $1.06 trillion in reserves in 2025, accounting for nearly 52% of the industry’s total use of reinsurance, according to an S&P Global Market Intelligence report published Friday.