Sidley Represents Fortitude Re in US$4 Billion Reinsurance Transaction With Taiyo Life
April 8, 2022
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Sidley represented Fortitude Re in a US$4 billion annuity reinsurance transaction between its subsidiary Fortitude Reinsurance Company Ltd., Bermuda’s largest multiline reinsurer, and Taiyo Life Insurance Company, a subsidiary of publicly traded Tokyo-based T&D Holdings, Inc.
Under the transaction, which marks Fortitude Re’s inaugural reinsurance deal covering business in Asia, Taiyo Life reinsured a significant portion of its inforce individual annuity business to Fortitude Re. Taiyo Life will continue to service and administer the reinsured policies.
The Sidley team was led by Jonathan J. Kelly (Insurance), and included John Grothaus, Katerina F. Glor (both Insurance), Peter Edgerton, and Josh Sandler (both Tax).
