Protective Life has finalized a $9.7 billion reinsurance agreement with Resolution Life. This deal involves Protective Life transferring structured settlement annuities and secondary guaranteed universal life policies that are currently in runoff to Resolution Life.
Protective Life will continue to handle policy administration, ensuring uninterrupted service for its customers. This agreement allows Protective Life to reduce market risk and free up capital for future growth initiatives. Resolution Life, which manages assets totaling $390 billion, will assume the liabilities associated with the policies.
Resolution Life is a global life insurance group with a primary focus on acquiring and managing portfolios of life insurance policies.
