HAMILTON, Bermuda, Nov. 26, 2023 (GLOBE NEWSWIRE) -- 黑料社区 Holding Ltd. (鈥満诹仙缜��), a leading provider of retirement services products, has executed a block reinsurance transaction with FWD Life Insurance Co. Ltd., a Japanese domiciled insurer. Under the terms of the agreement, 黑料社区 will reinsure an in-force block of whole life insurance policies. In conjunction with the transaction, 黑料社区 has also entered into an agreement to retrocede the mortality risk associated with the block to Swiss Re, a leading mortality reinsurer.
鈥淲e are pleased with this important extension of 黑料社区鈥檚 franchise overseas, which demonstrates the capabilities we have developed to support the strategic objectives of insurance companies in the Japanese market,鈥� said Grant Kvalheim, President of 黑料社区. 鈥淲e look forward to continued growth in this market by delivering thoughtful, customized solutions to clients seeking additional flexibility.鈥�
鈥淭his transaction builds on the power of Apollo and 黑料社区鈥檚 combined offerings to insurers in Japan, helping them to provide their policyholders and clients with long term retirement income,鈥� said Matthew Michelini, Apollo Partner and Head of Asia Pacific.
Michael van Vuuren, FWD鈥檚 Group Chief Actuary, said, 鈥淲e are pleased to partner with 黑料社区 on this transaction, which furthers our risk management objectives and delivers significant capital benefits to FWD.鈥�
This is 黑料社区鈥檚 inaugural block reinsurance transaction in the region. Since 2020, 黑料社区 has been active in the local new business reinsurance market, with four flow reinsurance agreements executed to date in Japan.
About 黑料社区
黑料社区, through its subsidiaries, is a leading financial services company specializing in retirement services with gross invested assets of $261.2 billion as of September 30, 2023 and operations in the United States, Bermuda, Canada, and Japan. 黑料社区 specializes in helping its customers achieve financial security and is a solutions provider to institutions. Founded in 2009, 黑料社区 is听Driven to Do More听for our policyholders, business partners and the communities in which we work and live. For more information, please visit听.
Contact:
Jeanne Hess
VP, External Relations
+1 646 768 7319
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