, Japan

Dai-Ichi Life and Resolution Re signs reinsurance agreement

This marks the first Japanese reinsurance transaction for Resolution Re.

Japanese life insurer Dai-Ichi Life has signed a reinsurance agreement with Bermudian reinsurance platform Resolution Re, a subsidiary of Resolution Life, that transfers a closed book of whole of life policies with US$1.5b in total liabilities. The agreement relates to coverage for market risks and insurance risks.

Dai-Ichi Life will continue to service the reinsured business, while Resolution Re and Dai-Ichi Life will work together to successfully manage the reinsured policies for the benefit of policyholders.

This marks the first Japanese reinsurance transaction for Resolution Re. 

Since early this year, Resolution Life has been taking steps to establish itself in Asia with the formation of its Representative Office in Singapore. It also announced the acquisition of AIA’s $5.53b Australian Superannuation & Investments business in February 2022.

READ MORE: Dai-ichi cements position as Australia’s top insurer with Westpac acquisition

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