Resolution Life seals first Hong Kong reinsurance deal worth $1b

The deal covers a portfolio of in-force participating whole life and annuity policies.

Resolution Life has completed a $1b block reinsurance transaction with a life insurer in Hong Kong, marking its first reinsurance deal in the market. 

The agreement covers a portfolio of in-force participating whole life and annuity policies and transfers nearly all associated risks—including market, policyholder behaviour, and mortality risks—to Resolution Life.

The transaction was advised by international law firm Linklaters, with a cross-border team led by Tokyo-based partner and global insurance sector co-head Tracy Whiriskey and Hong Kong-based global corporate chairman Matthew Middleditch.

This latest move expands Resolution Life’s footprint in Asia’s insurance sector. 

Linklaters has previously advised the firm on its reinsurance transactions in Japan and on its acquisition by Nippon Life Insurance Company. 

The law firm has also advised other Japanese insurers such as Dai-ichi Life Holdings and Meiji Yasuda Life Insurance Company on cross-border deals and strategic investments in global insurance players.