On December 27, 2021, PALAC and PLAZ entered into the Excluded Business Reinsurance Agreement, which was effective as of December 1, 2021, and pursuant to which PLAZ assumed from PALAC on a coinsurance basis, 100% of all liabilities of PALAC arising out of or resulting from the insurance or annuity policies and contracts issued, assumed or entered into by PALAC.
Marks key step in executing on Prudential’s strategy, while maintaining consistent experience for customers and deepening focus on protected outcome solutions like FlexGuard and FlexGuard. | April 1, 2022
NEWARK, N.J.& JERSEY CITY, N.J. Prudential Financial, Inc. and Fortitude Group Holdings, LLC, the parent company of Bermuda’ s largest multi-line reinsurer, today announced the completed sale to Fortitude Re of a portion of Prudential’ s legacy traditional variable annuity block. Consistent with the agreement announced on Sept. 15, 2021, Fortitude Re has acquired.
FGH Parent, L.P.,, today announced the signing and closing of a $4 billion reinsurance transaction between its subsidiary Fortitude Reinsurance Company Ltd., Bermuda’ s largest multiline reinsurer, and Taiyo Life Insurance Company, a wholly owned subsidiary of T&D Holdings, Inc. Sidley Austin LLP and Mori Hamada& Matsumoto served as legal counsel to Fortitude Re.