Resolution Re has completed its second reinsurance deal in the UK, covering the market and longevity risks of approximately 90,000 policyholders, representing around £2bn of individual in-payment UK annuity liabilities.

Hymans Robertson acted as actuarial advisors on the deal, which completed at the end of 2023, while CMS served as legal counsel to Resolution Re.

Resolution Re first announced its entry into the UK reinsurance market in October 2023, with this latest deal expected to extend the group's position as a "leading global manager of in-force life insurance businesses".

Commenting on the deal, Resolution Re spokesperson, Steve Hales, stated: “This transaction affirms Resolution Re’s track record of managing life and annuity portfolios while supporting insurers in meeting their long-term commitments to policyholders.

“We will continue to develop our leading specialist in-force management franchise and we believe our global experience, strategic relationships and aligned business model leave us well positioned to grow.”

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