Taiyo Life Insurance has signed and closed a $4bn reinsurance transaction with Fortitude Re. Under the transaction, Taiyo Life has reinsured a significant portion of its whole life annuity business to Fortitude Re. Taiyo Life will continue to service and administer the reinsured policies.
This transaction marks Fortitude Re’s second reinsurance transaction with Taiyo Life and Fortitude Re’s sixth deal in Japan.
“We are honoured that Taiyo Life continues to place their trust in us and we look forward to building on our successful partnership,” said Fortitude Re head of Asia Leonard Lin. “This transaction further demonstrates our deep commitment to the Japan market and to helping our partners achieve their risk, capital and growth aspirations.”