Resolution Life sets sights on Asia with new reinsurance agreement
Bermudian reinsurance platform Resolution Re has entered into a flow reinsurance agreement with a Japanese insurer, as part of Resolution Life’s strategic ambition to broaden its presence in Asia—a region it identifies as a core market for future growth.
The transaction is the first flow reinsurance arrangement for the cedant and aims to provide increased capacity and greater product competitiveness, enhancing the offering to the cedant’s fixed annuity policyholders, the company said.
Resolution Life believes it is “well placed” to scale this solution further in response to the needs of the primary life insurance industry in both Asia and the US, in addition to the company’s current capabilities in block reinsurance and M&A transactions.
The agreement comes on the heels of Resolution Life’s 2022 reinsurance deal with Dai-Ichi Life, underscoring the company’s ambition to expand its footprint in Asia, which it says is a “core market for future growth”.
Rushabh Ranavat, CEO, Asia of Resolution Life, said: “As we continue our mission to support the primary life insurance industry globally, we are pleased that this transaction allows Resolution Life to serve a new partner, expand our product offering and deepen our commitment to supporting the Asian life insurance industry. We look forward to building further on these elements in the future.”
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