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Resolution Life has announced that its Bermudian reinsurance platform, Resolution Re, has entered into a new UK Pension Risk Transfer (PRT) reinsurance transaction with a leading UK-regulated insurer.
This represents Resolution Life’s third transaction in the UK following two transactions that the company entered into in 2023 and means that it now manages a cumulative total of over $3.5bn of UK liabilities across its treaties.
Karl Chappell, managing director of Resolution Life, said: “With another successful transaction in the UK, Resolution Life continues to demonstrate its ability to manage life and annuity portfolios, while supporting insurers in meeting their long-term commitments to policyholders. Resolution Life is pleased to be leveraging its global experience and expert capabilities to provide support to the UK insurance market.”