Global Atlantic Announces 2nd Reinsurance Deal
Global Atlantic Financial Group announced its second reinsurance transaction in Asia, signing an asset-intensive flow reinsurance transaction with a leading Singapore-based insurance company.
A spokesperson said, “This deal, executed through its Bermuda-based subsidiary Global Atlantic Assurance Limited, follows a USD $4.8bn block reinsurance transaction with AXA Hong Kong in July 2021.”
“Our client-centric and partnership-based approach has been well-received in the APAC region,” said Manu Sareen, Co-President of Global Atlantic. “We are extremely proud of this new partnership and are seeing meaningful potential for future opportunities to deploy capital on endowment and asset-intensive life and annuity products in both flow and block transactions.”
“By creating tailored solutions built on the company’s leading ALM, risk and investment management capabilities, Global Atlantic has established itself as a leading reinsurance franchise in the life and annuity marketplace. The company has now reinsured approximately $75 billion of assets since its inception in 2004.”
