BMA fines Allianz Life Bermuda $1.7m
Allianz SE is in talks to transfer a block of Swiss life insurance assets to in-force life insurance business manager Resolution Life, according to reports.
Swiss Info reports that a deal could be announced this week to cede about $6 billion in liabilities to Resolution. Negotiations are ongoing, and if successful would still be subject to regulatory approval.
The deal would free up regulatory capital for Allianz, which faces a potential hit to earnings from lawsuits and probes in the US following the blow-up of hedge funds last year due to market turbulence during the pandemic.
Allianz SE, Resolution Life, Deal, Transaction, Life, Insurance, Reinsurance, Bermuda, Switzerland