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Resolution Existence completes acquisition of Voya Financial’s person daily life in-force organization

3 min read

NEW YORK–(Business enterprise WIRE)–Jan 4, 2021–

Resolution Life Group Holdings LP (‘Resolution Life’), a world manager of in-drive life insurance coverage businesses, is delighted to announce nowadays that it has done the acquisition of Voya Money, Inc.’s, (‘Voya’) unique existence in-force small business.

The completion sees Voya market to Resolution Lifestyle significantly all of its in-power person life organization, which includes Safety Existence of Denver Insurance plan Firm, Midwestern United Existence Insurance policy Enterprise and particular other affiliate marketers, as well as the reinsurance of Voya’s remaining in-force person lifetime and annuity blocks.

Voya transferred around 350 workers, jointly with the belongings and techniques used to deal with the small business. On completion extra than $25 billion of property had been additional to the Resolution Daily life stability sheet and it assumes accountability for the administration of the obtained company.

Following a changeover time period, which is envisioned to get up to two several years, Resolution Everyday living will switch Voya’s corporate devices with its personal systems. Resolution Life’s additional modern-day platforms will provide improved shopper service at decrease cost.

Resolution Everyday living has lifted in excess of US$3 billion of capital considering the fact that 2018. In addition to the acquisition of Voya’s person lifestyle in-pressure business, acquisitions to day involve the A$3 billion acquisition of AMP Daily life in Australia and the completion of a reinsurance transaction with Symetra Everyday living Insurance coverage Organization with US$5.7 billion of reserves.

The transaction presents Resolution Daily life with a strong platform to capitalise on upcoming growth prospects in the US market, diversifies the Team danger profile towards the Resolution Australasia and Resolution Re liabilities, and accelerates its development story.

Sir Clive Cowdery, Resolution Founder and Govt Chairman of Resolution Everyday living, claimed:

“We are delighted to welcome our new shoppers and colleagues to Resolution Everyday living. By obtaining or reinsuring businesses from associates these as Voya, Symetra and AMP, we present a very well-capitalised and stable surroundings to deliver on extensive-time period purchaser claims.

There is excellent option for expansion in the United States and completion of this transaction offers us an excellent platform to construct from.”

Notes to Editors:

About Resolution Lifetime

Resolution Everyday living is a world daily life insurance policy team focusing on the acquisition and management of portfolios of everyday living coverage procedures. Considering the fact that 2003, prior Resolution entities collectively with Resolution Existence have deployed US$16 billion of fairness in the acquisition, reinsurance, consolidation and management of 30 everyday living insurance coverage businesses. Jointly, these corporations have served the demands of 12.6 million policyholders even though taking care of around US$354 billion of assets. Resolution Daily life has operations in Bermuda, the U.K., the United States, Australia and New Zealand. Resolution Everyday living presents a harmless and trusted lover for insurers as they re-construction by:

  • Concentrating on existing consumers, instead than looking for growth by new income
  • Delivering policyholder gains in a safe, properly capitalised setting
  • Returning cash about time to our institutional buyers in the kind of a continual dividend yield

Go to https://resolutionlife.com/ for additional information and facts.

See supply variation on businesswire.com:https://www.businesswire.com/news/home/20210104005775/en/

Make contact with: Temple Bar Advisory Alex Little one-Villiers

+44 ()7795 425580William Barker

+44 ()7827 960151E-mail

[email protected]

Keyword: NEW YORK UNITED STATES NORTH The usa

Industry Key word: Qualified Products and services Insurance policies FINANCE

Source: Resolution Existence Group Holdings LP

Copyright Company Wire 2021.

PUB: 01/04/2021 04:15 PM/DISC: 01/04/2021 04:15 PM

http://www.businesswire.com/information/household/20210104005775/en

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