Resolution Re picks up £2bn UK annuities in second UK deal

Bermuda-based legacy reinsurer Resolution Re picked up some £2bn of individual in-payment UK annuity liabilities on longevity risks of approximately 90,000 policyholders in the group’s second-ever funded reinsurance transaction in the UK market.

The transaction was completed at the end of 2023 with an unspecified “prominent” UK-regulated insurer.

Resolution Re now has over 4 million policies in-force.

Steve Hales, CEO of Resolution Re, commented: “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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