Structural alpha in closed-book life insurance markets

Capital dynamics, operating platforms and the next phase of value creation — a DXC proprietary analysis

Closed-book life insurance portfolios should no longer be viewed as passive runoff businesses. These portfolios represent actively managed pools of liabilities that influence capital allocation, operating efficiency and long-term strategic positioning.

A new analysis by DXC Technology sets out the framework that leaders are using to capture structural alpha.

In the white paper, DXC experts Bill Pieroni, Lothar Rauch and Ammar Shoqair examine the forces reshaping closed-book life insurance economics — and the structural shift now underway as platform scale, integrated capital and agentic operating models redefine where value is created.

You'll learn:

• Why the next $1+ trillion of closed-book transfers is structurally inevitable, and what's accelerating it
• Three dominant buyer archetypes — reinsurance balance sheets, administration-scale operators and capital-sponsored platforms — and the distinct economics behind each
• How market-clearing economics have evolved beyond price to capital strength, execution capability and operational credibility, now influencing transaction outcomes as much as price
• Why agentic operating models can reduce total administrative cost by 35% – 55%, fundamentally changing platform economics
• How the industry is entering the agentic age, and which structural capabilities will define competitive advantage in the next phase