Principal Reinsures $25B in Life and Annuity Business With Talcott Arm
January 31, 2022 by Allison Bell
Principal Financial Group today announced that it has picked an affiliate of Talcott Resolution Life to help it shed the risk associated with its retail fixed annuity business and part of its life insurance business.
The Des Moines, Iowa-based life insurer has named the Talcott arm, Sutton Cayman, to reinsure a retail fixed annuity block backed by $16 billion in reserves and a block of universal life policies with secondary guarantees backed by $9 billion in reserves.
Click HERE to read the full story via ThinkAdvisor