Canada Life Reinsurance, a provider of reinsurance solutions for life and health, annuity, and property & casualty business, has entered into a long-term longevity reinsurance transaction with Athora Netherlands, part of Amstelveen, Netherlands headquartered Athora Holding Ltd.
The agreement, which highlights Canada Life Reinsurance’s strength as a partner for longevity reinsurance deals, covers €4.7 billion of in-force liabilities and 104,500 in-payment and deferred policies.
Jeff Poulin, Global Head of Canada Life Reinsurance, commented: “We are pleased to build and grow our relationship with Athora Netherlands with this major reinsurance agreement.
“It demonstrates our ability to work together with our partners to meet their reinsurance needs and adapt our solutions to their needs over time.”
This latest transactions follows the company’s participation in the de-risking of the BBC Pension Scheme via a more than £3 billion longevity swap with Zurich.
Additionally, the transaction highlights Canada Life Reinsurance’s commitment to the region, after the firm entered into a long-term longevity reinsurance agreement with Aegon in December of 2019, covering €12 billion of in-force liabilities in the Netherlands.
