Japanese life insurance company Resolution Life secures its initial transaction in Asia following the establishment of its representative office in Singapore.

Resolution Life, a provider of long-term legacy life insurance solutions, has made a significant step in expanding its global footprint with a reinsurance agreement with The Dai-Ichi Life Insurance. The agreement, facilitated through Resolution Life's Bermudian reinsurance platform, Resolution Re, pertains to a closed book of whole of life policies.

The reinsurance agreement does not disclose further details about the terms of the agreement, including the nature of the whole of life policies transferred, the insurance risks involved, or the duration of the agreement. However, it is known that the total liabilities of the transferred policies under the agreement amount to JPY150bn ($1.1bn).

The agreement also covers market risks, making it a comprehensive deal for both parties. Tetsuya Kikuta, President and Group CEO of Dai-Ichi Life Holdings, will be responsible for the reinsurance contract with Resolution Life and Resolution Re.

The transaction between Resolution Life and The Dai-Ichi Life Insurance is a significant milestone for Resolution Life, as it marks another step in its mission to provide innovative and sustainable solutions to the global life insurance industry. The reinsurance agreement with a major player like Dai-Ichi Life Insurance underscores Resolution Life's commitment to delivering value to its clients and partners.

Despite the lack of detailed information about the agreement, it is clear that Resolution Life continues to make strategic moves to expand its global presence and offer comprehensive solutions to its clients. The reinsurance agreement with The Dai-Ichi Life Insurance is a testament to Resolution Life's growing influence in the global life insurance market.

Japanese life insurance company Resolution Life secures its initial transaction in Asia following the establishment of its representative office in Singapore.