Webinar: Strategies and Options for Managing Closed Blocks
Today's life, annuity and pension firms are struggling with the continuation of a global economic downturn, where competition for business is fierce, investment returns are low, and the need for generating an operating profit to shareholders, members and policyholders is still high. The impact of the financial crisis, increased regulation and the reality that many older products are running on legacy technology has impacted insurers’ financial performance and agility across mature developed markets in similar ways. These factors are leading insurers to ask what they should do about the management of products that they no longer consider strategic.
Celent analysts Jamie Macgregor and Karen Monks examine the reasons why insurers opt to close books and what challenges they face in doing so. This webinar discusses the exit strategies insurers may take with regard to the administration of closed books of business as they turn into “run-off” businesses. It also analyzes the differences between and the options open to insurers in the North American and UK markets. The webinar concludes with a Q&A session.
This presentation draws on findings from Celent report Strategies and Options for Managing Closed Blocks: Life, Pension and Annuity Edition.