Talcott Financial Group has announced a reinsurance transaction involving its subsidiary, Talcott Life Re Ltd., and Dai-ichi Frontier Life Insurance Co., Ltd.

As part of the deal, Talcott Life Re will provide reinsurance for Dai-ichi Frontier Life’s new pension product, while Dai-ichi Frontier Life will continue to service and administer the policies.

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Talcott has partnered with Sixth Street, a global investment firm. Since Sixth Street acquired Talcott in June 2021, this transaction represents Talcott’s third reinsurance agreement and seventh commercial transaction overall.

Imran Siddiqui (pictured above), CEO of Talcot, highlighted the agreement and welcomed the company’s first reinsurance deal in Japan.

“As a trusted partner to policyholders and companies in the life insurance and pensions sector, our team continues to execute our growth-oriented strategy and build on our track record of delivering innovative and tailored solutions to meet the strategic needs of our clients,” added Siddiqui.

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In addition, Talcott has appointed Yasuhisa Watanabe as Chief Representative for the Asia Pacific region, effective July 1. Watanabe, who previously held leadership positions at RGA Japan and RGA Asia, has over 20 years of experience in the insurance and financial services industry.

In his new role, he will be responsible for developing relationships with insurance companies in the Asia Pacific region as Talcott expands its international presence.

“With over 30 years of experience in the insurance and financial services industry, Yasuhisa is a strong addition to Talcott,” said Siddiqui. “His deep leadership experience and industry relationships in the Japanese insurance and reinsurance market will be instrumental to us as we expand our international footprint into the Asia-Pacific market. We welcome him to the team and look forward to his contributions as we execute this inaugural transaction with Dai-ichi Frontier Life.”

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