Resolution Life closes Hong Kong block reinsurance and Japan flow deal from Bermuda platform
The Hong Kong cedents will continue to service and administer the reinsured policies.
Resolution Life is writing its Asian life business through a single offshore balance sheet, closing three reinsurance transactions today with Resolution Re, its Bermuda platform, as the vehicle and reinsurer for all of them. The counterparties were not named and no transaction size was disclosed.
Two are block reinsurance deals with separate Hong Kong-based life insurers, covering participating whole-of-life products. They move market risk, policyholder behaviour risk and mortality risk onto Resolution Life, which says the arrangement helps its clients sustain policyholder dividends over the long term. The cedents continue to service and administer the policies.
The third is a flow reinsurance treaty with a Japanese life insurer.
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