Allianz to Reinsure Around $34 Billion in US Liabilities
03 December 2021 - 5:56PM
Dow Jones News
By Joshua Kirby
German insurer Allianz SE said Friday that it has reached an
agreement to reinsure liabilities of approximately 30 billion euros
($33.9 billion) in the U.S.
Allianz subsidiary Life Insurance Co. of North America entered
into the agreement with life insurer Resolution Life and affiliates
of Sixth Street, including Talcott Resolution Life Insurance Co.,
the company said.
Reinsuring the liabilities in its U.S. fixed index annuity
portfolio will result in a capital release of around EUR3.6
billion, and should increase the Solvency II ratio by nine
percentage points, Allianz said.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
December 03, 2021 01:41 ET (06:41 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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