Resolution Life, a global life insurance group focused on reinsurance and the acquisition and management of portfolios of life insurance policies, has announced that its Bermuda-based reinsurance platform, Resolution Re, has entered into a new UK Pension Risk Transfer (PRT) transaction with a leading UK insurer.
According to Resolution Life, the agreement is the company’s fourth transaction in two months, following three recent deals in Asia, and continues the momentum it has built during the year.
The transaction transfers financial risk to Resolution Life, supporting risk diversification within the UK market and demonstrating the company’s ability to provide solutions designed to meet the needs of primary insurers.
Resolution Life said the agreement reinforces its commitment to serving the UK and European markets as a trusted, highly-rated counterparty.
Rushabh Ranavat, Resolution Life CEO, Asia and Europe, said: “This transaction is the result of a strong partnership, global capabilities, and a commitment to innovation. We are proud to build on our European presence and be of service to the primary life industry in the UK.”
