Eversheds Sutherland Advises Allianz in $35B Reinsurance Agreement with Resolution Life and Affiliates of Sixth Street

Eversheds Sutherland is pleased to announce that it represented Allianz SE in entering into an agreement to reinsure a $35-billion fixed index annuity portfolio that its subsidiary Allianz Life Insurance Company of North America has written. The reinsurance will be with Resolution Re Ltd. and affiliates of Sixth Street, including Talcott Resolution Life Insurance Company. The transaction is set to unlock $4.1 billion in value and will free up regulatory capital for Allianz. 

The transaction, which is the biggest so far for Allianz in terms of size of life back books, is in line with the group’s expanded strategy to leverage partnerships with strong reinsurance and risk management companies to monetize the value of in-force business and enhance the protection afforded to customers. 

Partner Ling Ling led the Eversheds Sutherland insurance transactional team, which included Partners Matthew L. Hazlett, John W. Benson, Eric R. Fenichel, Carol T. McClarnon, M. Kristan Rizzolo, Counsel Sean M. Diamond and Sean D. Wissman, Associate Michele N. Spencer, and Of Counsel James R. McGibbon.

For more information, please see Allianz SE’s press release:
https://www.allianz.com/en/press/news/financials/stakes_investments/211203_Allianz-enters-reinsurance-agreement-with-Resolution-Life-and-affiliates-of-Sixth-Street-for-its-US-fixed-index-annuity-portfolio.html

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