Case Studies

Agam partnered with a pension fund backed investment platform to source, diligence and execute the sponsored demutualization of a large mid-western mutual insurance company. Inforce products included whole life, term, disability as well as fixed and variable annuities. Agam acted as the sole financial adviser offering a full range of diligence, hedging, structuring and financial modelling off its pALM platform. Agam further enabled a variable annuity rider reinsurance recapture as well as a whole life reserve financing as part of the overall transaction.

Agam partnered with a world class investment manager to source, diligence and execute the risk transfer of a legacy fixed index annuity (FIA) block to a de novo Bermuda based reinsurer. Agam provided the entire suite of ALM, ERM and SAA support and developed the operating model towards securing a Class E license from the Bermuda Monetary Authority (BMA). Post-transaction, Agam’s Bermuda-based service company, Agam ISAC Bermuda, entered into a long term service agreement to manage the operations, risk and governance structure of the reinsurer. Enabled by pALM, Agam also provides full support to the board and regulatory bodies.

Agam is advising a full-service underwriter of an array of annuity and insurance products in evolving their liability risk driven SAA. By fully modeling the liability side of the balance sheet within pALM, Agam is able to explore and offer guidance and alternatives on a range of capital enhancements strategies designed to increase distributable earnings over a long term horizon. This process is overlayed with a risk management framework subjecting the optimization process to idiosyncratic constraints as set by management. Further, the pALM enabled process offers a variety of capital lenses across multiple jurisdictions and asset types. Lastly, the dynamic nature of the Agam SAA, allows for active integration with the Tactical Asset Allocation (TAA) to further improve risk adjusted earnings over time.

Agam acted as the sole financial adviser on the risk transfer of a legacy variable annuity (VA) block from a mutual insurance company. Agam enabled the full modelling of the relevant reserves and sensitivities and helped with structuring, diligence, and documentation of the transaction. pALM was used to assess projected reserve requirements across a number of regulatory jurisdictions.