WINDSOR, Conn., Dec. 30, 2021 – Talcott Resolution Life Insurance Company (“Talcott”) has completed its previously announced reinsurance transaction with Allianz Life Insurance Company of North America (“Allianz Life”) in one of the largest transactions of its kind.
Under the terms of the agreements, Talcott and Resolution Life reinsured approximately $35 billion of fixed indexed annuity liabilities from Allianz Life; $20 billion of these liabilities were placed with Talcott and one of its Bermuda affiliates. At the close of the transaction, Talcott and its affiliates manage $111 billion in liabilities and surplus on a pro-forma basis.
Allianz Life will continue to service and administer the policies as insurer of the reinsured block of business and will remain responsible for fulfilling its obligations to policyholders.
About Talcott Resolution
Talcott Resolution Life Insurance Company oversees $91 billion in liabilities and surplus for approximately 900,000 customers as of September 30, 2021. The company offers creative in-force and new business solutions that provide insurers with capital flexibility and risk management efficiencies. Named a “Top Workplace” by the Hartford Courant in 2021 for the third consecutive year, Talcott Resolution is headquartered in Windsor, Conn.
For more information visit www.talcottresolution.com or follow Talcott Resolution on LinkedIn.
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