Resolution Life announces $1bn reinsurance deal in Hong Kong
Why we think this is neutral
The RNS announcement details a $1bn block reinsurance transaction in Hong Kong for Resolution Life, which is a general corporate update rather than a specific financial or operational news item. While the transaction is significant, the announcement does not contain any information about the company's financial performance or outlook.
Key Points
- Resolution Life has closed a $1bn block reinsurance transaction with a leading life insurer in Hong Kong
- The transaction covers an in-force portfolio of participating whole life and annuity policies
- Resolution Life will take on the market, policyholder behaviour and mortality risks associated with the guaranteed benefits
- This is Resolution Life's first reinsurance transaction in Hong Kong, following a recent deal in Japan
Summary
Resolution Life, a global life insurance group, has entered into a reinsurance agreement with one of the leading life insurers in Hong Kong. The transaction covers an in-force portfolio of participating whole life and annuity policies and transfers materially all risks associated with the guaranteed benefits of these policies from the cedant to Resolution Life. This is Resolution Life's first reinsurance transaction in Hong Kong and follows a recent announcement of a block reinsurance transaction in Japan, demonstrating the company's continued commitment to providing reinsurance solutions to life insurers across Asia.