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Agam Capital signs multi-year services deal with Sompo Life Re

The agreement covers financial, actuarial, and risk management support for Life Re as it prepares for launch operations and strategic asset allocation decisions.

Reported · Written up by our desk · Industry & Deals

Agam Capital and Sompo Life Re Ltd have entered into a multi-year service agreement aimed at supporting operations for Life Re, a new Bermuda-domiciled life reinsurance platform, according to Reinsurance News.

Under the deal, Agam will provide services to the Sompo-led Life Re management team, including financial, actuarial, and risk management functions, as well as support for evaluating strategic asset allocation.

The reinsurer will also collaborate with Agam on activities needed to establish launch operational capabilities and secure Life Re licensing. Sompo Group previously confirmed that its Bermuda-based subsidiary, Sompo Life Re Ltd., obtained a reinsurance license from the Bermuda Monetary Authority and began operations.

Reinsurance News also said Agam will work with the Life Re team as it develops its launch capability for Sompo, with Agam leadership expressing confidence in supporting Life Re’s strategic initiatives.

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