Serenova Re, a Bermuda-based reinsurer backed by Bain Capital and part of the Federal Life Group, has completed a strategic reinsurance partnership with a highly rated, well-established US life insurance carrier.
This is the reinsurer’s first asset-intensive reinsurance transaction in the country.
Serenova Re becomes the life carrier’s preferred reinsurer for the transaction, providing tailored solutions designed to support balance sheet efficiency and long-term growth strategy.
The reinsurer explained that this transaction also reflects a broader shift in how established carriers are approaching reinsurance.
It follows Serenova Re’s recent capital raise, further strengthening its ability to pursue additional reinsurance opportunities in the future.
Knut Olson, Chief Executive Officer, Serenova Re, commented, “Entering the U.S. market with a partner of this caliber is exactly the kind of start we set out to make. This is the standard we intend to set as we build our presence here.”
Stelian Dragan, Chief Business Development Officer, Serenova Re, added, “Asset-intensive reinsurance has traditionally been viewed as a tool for newer or fast-growing carriers seeking capital support. But we’re increasingly seeing established, well-capitalized insurers recognize its value as a way to free up capital, sharpen competitiveness, and create flexibility to pursue new opportunities, even from a position of strength.”
Matt Popoli, Partner and Global Head of Insurance, Bain Capital, said, “Serenova Re was built to partner with insurers seeking sophisticated reinsurance solutions. This transaction highlights Serenova Re’s ability to collaborate with highly regarded insurers on strategic transactions and reflects the continued momentum behind the platform.”
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