Talcott Financial Group has announced a reinsurance transaction involving its subsidiary, Talcott Life Re, Ltd, and The Dai-ichi Frontier Life Insurance Co, Ltd.
As part of the deal, Talcott Life Re will provide reinsurance for Dai-ichi Frontier Life’s new annuity product, while Dai-ichi Frontier Life will continue servicing and administering the policies.
Talcott is partnered with Sixth Street, a global investment firm. Since its acquisition by Sixth Street in June 2021, this transaction represents Talcott's third flow reinsurance agreement and seventh business transaction overall.
Imran Siddiqui (pictured above), CEO of Talcott, highlighted the agreement and welcomed the company's first reinsurance deal in Japan.
“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,” Siddiqui said.
Additionally, Talcott appointed Yasuhisa Watanabe as chief representative, Asia Pacific, effective July 1. Watanabe, who previously served in leadership roles at RGA Japan and RGA Asia, brings over 20 years of experience in the insurance and financial services industry.
In his new role, he will be responsible for developing relationships with insurers in the Asia-Pacific region as Talcott expands its international presence.
“With more than 30 years of insurance and financial services industry experience, Yasuhisa is a strong addition to Talcott,” Siddiqui said. “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.”
What are your thoughts on this story? Please feel free to share your comments below.
