Talcott Financial secures reinsurance agreement to expand operations in Japan.

09 Aug, 2024

Talcott Financial secures reinsurance agreement to expand operations in Japan.

Talcott Financial has expanded its presence in the Asia-Pacific region with its first reinsurance transaction in Japan. The deal, executed through its subsidiary Talcott Life Re, involves a flow reinsurance agreement with The Dai-ichi Frontier Life Insurance. Under this agreement, Talcott Life Re will reinsure Dai-ichi Frontier Life’s innovative annuity product, while Dai-ichi Frontier Life will continue to manage and administer the policies, maintaining its role as the issuer.

This transaction marks a significant milestone for Talcott since its acquisition by Sixth Street in June 2021, adding to its portfolio of three flow reinsurance and seven business transactions. In a strategic move to strengthen its position in the region, Talcott has appointed Yasuhisa Watanabe as Chief Representative, Asia Pacific, effective 1 July.

Watanabe, with over 30 years of experience in insurance and financial services, including his recent role as Co-CEO and Chief Financial Officer of RGA Reinsurance Company’s Japan branch, will play a pivotal role in expanding Talcott’s operations and influence in the Asia-Pacific market.