Resolution Daily life completes acquisition of Voya Financial’s specific lifestyle in-drive organization

Resolution Life Group completes acquisition of Voya Monetary, Inc.’s, particular person lifestyle in-power business
This transaction delivers Resolution Daily life with a system for additional growth in the US
Considering the fact that 2003, Resolution Daily life and prior Resolution entities have deployed US$16bn of fairness in the acquisition, reinsurance, consolidation and management of 30 life insurance plan corporations

Resolution Life Team Holdings LP (‘Resolution Life’), a international supervisor of in-drive everyday living insurance organizations, is delighted to announce these days that it has done the acquisition of Voya Fiscal, Inc.’s, (‘Voya’) specific daily life in-drive business enterprise.

The completion sees Voya market to Resolution Everyday living substantially all of its in-force unique lifestyle enterprise, like Security Daily life of Denver Insurance policy Organization, Midwestern United Everyday living Insurance plan Corporation and certain other affiliates, as well as the reinsurance of Voya’s remaining in-pressure particular person daily life and annuity blocks.

Voya transferred close to 350 employees, jointly with the assets and systems made use of to control the organization. On completion extra than $25 billion of assets were added to the Resolution Daily life equilibrium sheet and it assumes duty for the administration of the acquired business.

Adhering to a changeover period of time, which is envisioned to take up to two many years, Resolution Everyday living will change Voya’s company systems with its possess devices. Resolution Life’s more modern day platforms will provide enhanced consumer assistance at lessen price.

Resolution Everyday living has lifted above US$3 billion of funds since 2018. In addition to the acquisition of Voya’s unique lifetime in-pressure company, acquisitions to day consist of the A$3 billion acquisition of AMP Existence in Australia and the completion of a reinsurance transaction with Symetra Existence Insurance plan Organization with US$5.7 billion of reserves.

The transaction presents Resolution Existence with a powerful platform to capitalise on long run growth possibilities in the US market place, diversifies the Team danger profile from the Resolution Australasia and Resolution Re liabilities, and accelerates its progress story.

Sir Clive Cowdery, Resolution Founder and Executive Chairman of Resolution Existence, stated:

“We are delighted to welcome our new shoppers and colleagues to Resolution Lifetime. By attaining or reinsuring businesses from associates these types of as Voya, Symetra and AMP, we give a perfectly-capitalised and steady atmosphere to provide on long-expression purchaser claims.

There is excellent possibility for progress in the United States and completion of this transaction provides us an excellent platform to develop from.”

Notes to Editors:

About Resolution Life

Resolution Everyday living is a world wide existence insurance policy team concentrating on the acquisition and management of portfolios of existence insurance policy guidelines. Considering that 2003, prior Resolution entities collectively with Resolution Everyday living have deployed US$16 billion of equity in the acquisition, reinsurance, consolidation and administration of 30 lifestyle insurance firms. Together, these businesses have served the needs of 12.6 million policyholders whilst running in excess of US$354 billion of belongings. Resolution Lifetime has operations in Bermuda, the U.K., the United States, Australia and New Zealand. Resolution Existence gives a protected and trusted husband or wife for insurers as they re-composition by:

Concentrating on current clients, somewhat than seeking expansion by new gross sales
Providing policyholder rewards in a secure, perfectly capitalised environment
Returning funds in excess of time to our institutional investors in the type of a continuous dividend generate

Take a look at https://resolutionlife.com/ for additional info.