Eiopa sets pre-authorisation expectations for private-equity-backed EU insurers

The European Insurance and Occupational Pensions Authority has set out pre-authorisation expectations for insurers backed by private equity, covering portfolio transfers, qualifying-holding acquisitions and mergers. The supervisory statement follows a February consultation on the draft. It is a supervisory statement, not a capital calibration.

Gerald Gakundi of the Bermuda Monetary Authority said insurers still own the risk in outsourced private credit and that boards must be able to explain their holdings to the authority. Blackstone and Global Atlantic pushed back on claims of opacity in private credit, according to our reporting.

AM Best flagged $30 billion of fronting premium backed by unrated reinsurance. A Conning study published in August 2026 found that fronting programs' initial loss ratios developed adversely in each of the past seven accident years.

Talcott Resolution completed a $6.3 billion reinsurance of Lincoln National's guaranteed universal life block, a deal announced in July. Lincoln retains administration of the policies and expects the transaction to lift medium-term annual remittances from the subsidiary by $30 million to $40 million. The liabilities moved; the operations that service them stayed with the cedent. Pacific Life Re completed a $3 billion longevity reinsurance with American National the same week, its first US longevity trade through its Savings and Retirement business.