Talcott Financial Group, a life insurance provider specialising in risk solutions, has entered into a block reinsurance transaction of approximately $10 billion through its subsidiary, Talcott Resolution Life Insurance Company (Talcott Resolution), with Metropolitan Life Insurance Company (MetLife).
The transaction is structured on both a modified coinsurance and funds-withheld basis, as Talcott Resolution will reinsure approximately $10 billion in variable annuity and rider reserves, while MetLife will continue to administer and service the policies.
Additionally, MetLife Investment Management will manage approximately $6 billion of assets under investment management agreements with Talcott.
The transaction is subject to regulatory approvals and customary closing conditions, and expected to close in the second half of 2025.
This transaction follows the previously announced block reinsurance transaction with Japan Post Insurance, bringing the total reinsured reserves in 2025 to $14 billion.
Wells Fargo acted as the exclusive financial advisor to Talcott.
Imran Siddiqui, Chief Executive Officer of Talcott, commented, “Today’s announcement marks another significant milestone in our growth journey and reinforces Talcott’s position in the insurance industry as a reinsurer of choice. We appreciate the hard work and collaboration from teams across both institutions that have led to this partnership.”
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