Fortitude Re completes $4b reinsurance deal with Taiyo Life Insurance

The deal transfers a part of Taiyo Life’s whole life annuity business to Fortitude.

Fortitude Re has completed a $4b reinsurance transaction with Japan-based Taiyo Life Insurance Company, a subsidiary of T&D Holdings. 

The deal, effective 28 February, transfers a significant portion of Taiyo Life’s whole life annuity business to Fortitude International Reinsurance Company Ltd. (FIRL), a subsidiary of Fortitude Re. 

Taiyo Life will continue to service and administer the reinsured policies.  

This marks Fortitude Re’s second reinsurance transaction with Taiyo Life and its sixth deal in Japan.