Global Atlantic takes second Asian reinsurance deal inside 12M

Global Atlantic Financial Group has taken its second major dive into Asia reinsurance with an asset-intensive flow reinsurance transaction with an unspecified Singapore-based insurance leader and sees “meaningful potential” for further deals.

The new deal, executed through the group’s Bermuda-based subsidiary  Global Atlantic Assurance, follows a $4.8 billion block reinsurance transaction with AXA Hong Kong as recently as July 2021. The company has now reinsured approximately $75 billion of assets since its inception in 2004.

Global Atlantic co-president Manu Sareen (pictured) commented: “Our client-centric and partnership-based approach has been well-received in the APAC region. We are extremely proud of this new partnership and are seeing meaningful potential for future opportunities to deploy capital on endowment and asset-intensive life and annuity products in both flow and block transactions.”

Global Atlantic, active in the US life insurance and annuity industry, is majority owned by investment firm KKR, which offers asset management and capital markets solutions across multiple strategies.

Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.