Resolution Life announces UK PRT reinsurance transaction [Yahoo! Finance]
SUNCORP GROUP LTD S/ADR (SNMCY)
NASDAQ:AMEX Investor Relations:
suncorpgroup.com.au/investors
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Source: Yahoo! Finance
Furthermore, the transaction reinsures longevity and asset risks associated with UK pension liabilities. Under the terms of the agreement, Resolution Life will reinsure liabilities covering both pensions in payment and deferred pensions. Resolution Life has worked to develop a funded reinsurance structure that can provide capacity to UK PRT writers in a sustainable way that considers the interests of all stakeholders including insurers and regulators. This transaction follows on the back of strong momentum for Resolution Life in the last 12 months having signed partnerships with Nippon Life and Blackstone as part of the $3bn equity capital raise, completed an inaugural $500m Tier 2 listed debt issuance, closed three reinsurance transactions and acquired Suncorp's New Zealand life insurance company, Asteron Life. Karl Chappell, a managing director of Resolution Life said: “With another successful transaction in the UK, Resolution Life continues to demonstrate its ability to mana
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