Kuvare Announces Reinsurance Transaction
Kuvare Holdings announce the signing of a commercial agreement to assume approximately $850 million of fixed annuity reserves in a reinsurance transaction through its Bermuda subsidiary, Kuvare Life Re Ltd. [KLR].
“We’re incredibly proud of our track record of rapidly establishing a premier life and annuity insurance platform that delivers valuable solutions to consumers seeking growth and protection of their wealth,” said Kuvare founder & CEO Dhiren Jhaveri.
“This transaction is a prime example of our successful strategy of driving growth in our reinsurance business. Kuvare will continue to distinguish itself as a trusted and reliable reinsurance solution provider for insurance companies seeking a partner with extensive expertise in this space.”
The Company has executed multiple reinsurance transactions through KLR in recent months, while also acquiring Guaranty Income Life Insurance Company in Baton Rouge, Louisiana in 2016, and signing a definitive agreement in September, 2017 to purchase United Life Insurance Company in Cedar Rapids, Iowa.
