Aspida Re executes second reinsurance transaction in Japan

Bermuda-based life and annuity reinsurer Aspida Re has completed its second reinsurance transaction in Japan, marking what the firm described as a continued commitment to the country’s insurance market.

Aspida Re closed a deal with an unnamed Japanese life insurance carrier to reinsure new or incoming flow business. 

The reinsured product is a Japanese yen-denominated fixed annuity, demonstrating what Aspida Re hailed as “its ability in manage foreign exchange risk and deliver tailored solutions to its cedents”.

“This transaction is highly strategic for Aspida Re,” said David Florian, CEO of Aspida Re. “It reflects our deep commitment to the Japanese market and our broader vision of supporting insurers around the world with reinsurance solutions.”

Jon Steffen, president and chief actuary of Aspida Re, said: “Our flexibility and customised solutions allow us to provide significant advantage to clients and partners, no matter their location.”

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