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Talcott Financial Group Announces Inaugural Flow Reinsurance Transaction in Japan |
Company’s third flow reinsurance transaction since June 2021 and first in Japan |
Yasuhisa Watanabe joins Talcott as Chief Representative, Asia Pacific |
Hamilton, Bermuda, July 31, 2024 – Talcott Financial Group (“Talcott”), an international life insurance group and leading provider of comprehensive risk solutions, today announced a flow reinsurance transaction between its subsidiary, Talcott Life Re, Ltd. (“Talcott Life Re”), and The Dai-ichi Frontier Life Insurance Co., Ltd. (“Dai-ichi Frontier Life”). |
Under the terms of the agreement, Talcott Life Re will reinsure Dai-ichi Frontier Life’s innovative new annuity product. Dai-ichi Frontier Life will continue to service and administer the policies as issuer of the contracts. |
“This is a very exciting moment for Talcott as this transaction represents our first reinsurance agreement in Japan,” said Imran Siddiqui, Chief Executive Officer of Talcott. “As a trusted partner for policyholders and companies across the life insurance and annuity sector, our team continues to execute our focused growth strategy and build upon our record of delivering innovative and tailored solutions that meet the strategic needs of our clients.” |
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Talcott’s extensive capabilities are supported by a highly experienced management team, investment-grade financial strength ratings, and its partnership with Sixth Street, a leading global investment firm. |
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This is the third flow reinsurance transaction and the seventh business transaction overall for Talcott since its acquisition by Sixth Street in June 2021. |
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In addition, on July 1, 2024, Talcott appointed Yasuhisa Watanabe as Chief Representative, Asia Pacific. Prior to joining Talcott, Watanabe spent 20 years at RGA Japan and RGA Asia, including his role as the Co-CEO and Chief Financial Officer of RGA Reinsurance Company’s Japan branch. As Talcott extends its footprint internationally, Watanabe will be responsible for cultivating relationships with insurers in the Asia-Pacific region. |
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Siddiqui continued, “With more than 30 years of insurance and financial services industry experience, Yasuhisa is a strong addition to Talcott. His depth of leadership experience and industry relationships in the Japanese insurance and reinsurance market will serve us well as we extend our international footprint to the Asia-Pacific market. We welcome him to the team and look forward to his contributions as we execute this inaugural transaction with Dai-ichi Frontier Life.” |
About Talcott Financial Group |
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Talcott Financial Group, an international life insurance group, is the insurance industry’s trusted partner for comprehensive risk solutions. The enterprise benefits from its strong financial position, as evidenced by $127 billion in assets, its investment grade financial strength ratings, and its partnership with Sixth Street, a leading global investment firm. Talcott Financial Group has offices based in Bermuda, the Cayman Islands, Connecticut, and New York, and its platforms include Talcott Resolution and Talcott Re. |
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For more information visit www.talcott.com or follow Talcott Financial Group on LinkedIn. |
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Media Contact |
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Allison Lang |
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FGS Global |