New York – Resolution Life has entered into a significant reinsurance agreement with Protective Life Corporation’s insurance subsidiaries, valued at $9.7 billion. The deal covers reserves associated with structured settlement annuities and secondary guarantee universal life policies.
As part of the agreement, Protective, a U.S. subsidiary of Japan’s Dai-ichi Life Holdings, will continue to manage policy administration.
This transaction expands Resolution Life’s portfolio to approximately $100 billion in life and annuity reserves, impacting over four million policies worldwide.
The move comes shortly after Resolution Life’s acquisition by Nippon Life, a development that is expected to further enhance growth in the global life and annuity markets, driving consolidation in the sector.
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