Leading financials services company, Global Atlantic Financial Group, has announced its second reinsurance transaction in Asia, signing an asset-intensive flow reinsurance transaction with a leading Singapore-based insurer.
The deal was executed through the company’s Bermuda-based subsidiary – Global Atlantic Assurance Limited.
This deal also follows Global Atlantic’s $4.8 billion whole life reinsurance transaction with AXA Hong Kong, from July 2021. At the time, the deal was the company’s first block reinsurance transaction sourced from outside of the US, as it helped them to expand and become a major player within this space.
Moreover, the company has now reinsured approximately $75 billion of assets since its inception in 2004.
“Our client-centric and partnership-based approach has been well-received in the APAC region,” said Manu Sareen, Co-President of Global Atlantic.
“We are extremely proud of this new partnership and are seeing meaningful potential for future opportunities to deploy capital on endowment and asset-intensive life and annuity products in both flow and block transactions.”
Furthermore, in October 2021, Global Atlantic acquired a majority stake in eRESI Mortgage.
