Resolution Re, the Bermudian-based reinsurance platform of Resolution Life, the global manager of in-force life and annuity policies, has entered into a flow reinsurance agreement with a Japanese insurer.

The transaction is the first flow reinsurance arrangement for the cedant and aims to provide increased capacity and greater product competitiveness, enhancing the offering to the cedant’s fixed annuity policyholders.

A spokesman for the company said: “This is a solution that Resolution Life is well placed to scale further in response to the needs of the primary life insurance industry in both Asia and the US. This is in addition to the company’s current capabilities in block reinsurance and M&A transactions.

“As Resolution Life’s second transaction in Japan following a reinsurance agreement with Dai-Ichi Life in 2022, it further extends the business’s commitment to Asia more broadly, which remains a core market for future growth.”

Rushabh Ranavat, CEO, Asia, of Resolution Life, said: “As we continue our mission to support the primary life insurance industry globally, we are pleased that this transaction allows Resolution Life to serve a new partner, expand our product offering and deepen our commitment to supporting the Asian life insurance industry. We look forward to building further on these elements in the future.”

Resolution Life has operations in Bermuda, Britain, United States, Australia and New Zealand.