Resolution Life Seals $9.7 Billion Reinsurance Deal with Protective
Resolution Life has finalized a significant reinsurance agreement with subsidiaries of Protective Life Corporation. The deal involves approximately $9.7 billion in reserves linked to structured settlement annuities and secondary guarantee universal life policies.
Protective, a U.S. subsidiary of Japan’s Dai-ichi Life Holdings, will maintain policy administration under the agreement. This transaction significantly expands Resolution Life’s portfolio, bringing its total general account life and annuity reserves to about $100 billion, with over four million policies now in force.
The agreement follows Resolution Life’s recent acquisition by Nippon Life, indicating further growth in the global life and annuity consolidation markets.
According to recent reports, this deal is expected to drive further growth in the global life and annuity markets. This reinsurance deal is a strategic move that strengthens both companies’ positions in the insurance sector.
This strategic move will further assist in business development.
Key Highlights:
- Deal Value: $9.7 billion in reserves
- Parties Involved: Resolution Life and Protective Life Corporation
- Policies Covered: Structured settlement annuities and secondary guarantee universal life policies
- Administration: Protective Life Corporation (a subsidiary of Dai-ichi Life Holdings)
- Impact: Expands Resolution Life’s portfolio to approximately $100 billion in general account life and annuity reserves.
This deal highlights the dynamic nature of the insurance industry, particularly in the Asia-Pacific region. The acquisition by Nippon Life and the latest reinsurance agreement with Protective Life signals a continued trend of consolidation and strategic partnerships in the global insurance landscape.
