Tokio Marine & Nichido Life Insurance Co (Anshin Life) and Reinsurance Group of America (RGA) have announced a deal to reinsure an approximately 100 billion JPY paid-up block of whole life policies through coinsurance.
“Our ongoing partnership with Anshin Life is a testament to RGA’s strategic commitment to the Japanese market and our understanding of its distinctive requirements,” said Gaston Nossiter, Senior Vice President, Head of Asia Pacific, Global Financial Solutions, RGA.
“This transaction is a reflection of our deep-rooted dedication to collaborate with insurers, addressing capital and market risks, and affirming our readiness to support our clients’ evolving goals with innovative and customized financial solutions.”
“RGA’s local presence and ongoing partnership has been a key advantage, and they provided an attractive option that addresses our asset liability management strategies,” said Anshin Life.
“Their ability to understand Japan’s unique market conditions and their flexible approach in responding to our specific needs have made them an excellent reinsurance partner.”
Additional terms of the transaction are not being disclosed.