Athene announces block reinsurance transaction with Sony Life in Japan

Written by Adam Cadle

29/09/2025

Athene has announced that it intends to enter a block reinsurance transaction with Sony Life, a top-rated Japanese insurer.

As part of this transaction, Athene will reinsure an in-force block of US dollar denominated whole life insurance policies and will enter into an agreement with leading reinsurer Swiss Re to retrocede all mortality risk associated with the block.

“Japanese insurers are increasingly turning to more tailored solutions and flexible capital to enhance their financial strength and advance policyholders’ goals,” said Katie Daly, EVP and global head of M&A, reinsurance and pensions at Athene.

“Our retirement and capital expertise put us in a strong position to address needs unique to the Japan market.”

This transaction marks Athene’s eighth reinsurance transaction across seven cedents, and second block reinsurance transaction with Japanese insurers since entering the market five years ago. This brings the total transaction volume of Athene’s reinsurance transactions with Japanese cedants to approximately $19bn.

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