Talcott Financial Group, an international life insurance group, has announced an expansion to the previously announced block reinsurance transaction between its subsidiary, Talcott Life Re, and Japan Post Insurance.
Under the terms of the expanded agreement, Talcott Life Re will reinsure an additional ¥100 billion (approximately USD $625 million at current exchange rates) block of in-force payout annuities. This transaction is effective as of March 31, 2026.
This move builds upon an initial agreement where Talcott Life Re agreed to reinsure a ¥550 billion (USD $3.6 billion) portfolio of in-force payout annuities.
Japan Post Insurance was to retain policy servicing and administration, and will continue to do so under the expanded agreement. The initial agreement was established to take effect on March 31, 2025.
“The expansion of this partnership with Japan Post Insurance validates the value proposition of Talcott’s platform and is a testament to the skills and capabilities of our global teams,” said Imran Siddiqui, Chief Executive Officer of Talcott.
He continued: “As we grow Talcott’s presence in Japan, we remain committed to providing the comprehensive risk solutions our blue-chip partners depend on. We’re grateful to Japan Post Insurance for placing their trust in Talcott and recognizing the unwavering focus our team places on fulfilling obligations to our partners and their policyholders.”
