American Life Makes an Annuity Reinsurance Deal
July 13, 2021 by Allison Bell
A company that hopes to build a big annuity business has a new reinsurance deal. Midwest Holding Inc. says its American Life & Security Corp. subsidiary will be passing some of the annuity risk it assumes on to American Republic Insurance Co.
American Republic is a subsidiary of American Enterprise Group Inc.
American Republic has agreed to assume a 20% share of the risk associated with American Life’s multi-year guaranteed annuities and fixed income annuities, up to a limit of $100 million of premium, according to Midwest.