Bermuda-based life and annuity reinsurer Aspida Life Re has completed its second reinsurance transaction in Japan, effective June 1, 2025, marking a key milestone in its global expansion strategy.
The deal was executed with a highly rated Japanese life insurance carrier, under which Aspida Re will reinsure new and incoming flow business.
Aspida Re explained that the reinsured product is a Japanese yen-denominated fixed annuity, highlighting its ability to manage foreign exchange risk and deliver tailored solutions to its cedents.
David Florian, CEO of Aspida Re, commented, “This transaction is highly strategic for Aspida Re. It reflects our deep commitment to the Japanese market and our broader vision of supporting insurers around the world with innovative, capital-efficient reinsurance solutions.”
Jon Steffen, President and Chief Actuary of Aspida Re, added, “We are excited to secure our second Japanese reinsurance agreement. Our flexibility and customised solutions allow us to provide a significant advantage to clients and partners, no matter their location.”
In related news, earlier this year, Aspida Life Re announced the appointment of Elinor Friedman to its Board of Directors.
Friedman is a seasoned actuary and holds nearly 30 years of experience in the re/insurance industry.
