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