Agam To Support Sompo Life Re Platform
Agam Capital and Sompo Life Re have entered into a multi-year service agreement supporting Sompo Life Re’s new Bermuda-based life reinsurance platform.
A spokesperson said, “Agam Capital [Agam], a global leader in technology-enabled insurance-asset and liability management and Sompo Life Re, Ltd [Life Re] have entered into a multi-year service agreement to support the operations of a new, Bermuda domiciled life reinsurance platform.
“Life Re engaged and collaborated with Agam on a full range of activities to establish its launch operational capabilities and secure the licensing of Life Re. As part of the establishment of the new entity, Life Re and Agam Bermuda have entered into a multi-year Services Agreement memorializing the relationship between the parties and the services to be provided by Agam to Life Re. The services will be delivered to the Sompo led Life Re management team and encompass the financial, actuarial and risk management functions of Life Re. Further, Agam will support Life Re management in the evaluation of its strategic asset allocation.”
“We are gratified to be working with the accomplished Life Re team on this exciting new reinsurance platform,” stated Agam Co-Founders Chak Raghunathan and Avi Katz. “Globally, our expanded platform and resources are well positioned to enable Life Re to continue to succeed in the execution of its strategic initiatives.”
“We are pleased to have the support of Agam’s specialist talent and infrastructure as we establish this new capability for Sompo. It provides a strong foundation for us to build upon,” stated Tetsuya Morito, Director and CEO of Sompo Life Re. “Working with Agam in recent months has been highly effective and efficient enabling us to demonstrate strong governance and advanced capabilities at launch,” added Satyan Sawhney, Director and COO of Sompo Life Re.
