closed-block life insurance

Resolution Life, the legacy life insurance investments arm of insurance entrepreneur Clive Cowdery’s Resolution Group, is aiming to raise $3 billion in capital through a newly established perpetual capital vehicle, with Blackstone as an anchor investor and strategic partner to drive future growth.

Global insurance and reinsurance giant Allianz has freed up roughly $4.1 billion in value after entering into a reinsurance arrangement to transfer $35 billion of fixed index annuity liabilities to entities of Sixth Street and Clive Cowdery’s Resolution Life.

Resolution Life, the legacy life insurance investments arm of insurance entrepreneur Clive Cowdery’s Resolution Group, has raised a further $1.6 billion to fund growth through the acquisition and reinsurance of life insurance portfolios.

Resolution Life, the life insurance focused arm of insurance entrepreneur Clive Cowdery’s Resolution Group, has now raised $3 billion in capital commitments to put to work in its legacy life insurance linked investment strategies.

Resolution Life, the life insurance focused arm of insurance entrepreneur Clive Cowdery’s Resolution Group, has announced the promotion and appointment of Steve Hales as CEO of its Bermuda reinsurance unit Resolution Re.

Insurance entrepreneur Clive Cowdery, the founder of life book investor Resolution Group, is reported to be raising capital for a new Bermuda investment fund that will continue to target backing closed-books of life insurance business with reinsurance capital.

Phoenix Life Holdings Limited, a subsidiary of life insurance and reinsurance consolidator Phoenix Group Holdings Limited, has agreed to acquire the Abbey Life business from Deutsche Bank, a deal that will provide the troubled bank with £935m ($1.215 billion) in cash.

XL Group has continued its downsizing of the life insurance aspects of its business, as it seeks to increase the focus on property casualty underwriting in the wake of its acquisition of Catlin, announcing a reinsurance deal with Reinsurance Group of America Inc.

Large global reinsurance firms remain focused on buying up closed blocks or books of life and health insurance business, believing that by pooling the underlying assets and managing the legacy claims they can make the books perform better than those who wrote the business.

The Canada Pension Plan Investment Board (CPPIB) has announced that it is acquiring life insurance and reinsurance firm Wilton Re alongside the Wilton Re management team.