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Wilton Re and Sun Life plan Windsor Life Re life annuity sidecar
The new affiliated reinsurer is expected to deploy about $900 million in capital and initially reinsure an in-force block of roughly $1.7 billion, with a target to reach around $10 billion in assets.
Wilton Re is partnering with Sun Life Financial Inc. to launch Windsor Life Re, a new U.S. and Bermuda based company designed to operate as a life and annuity reinsurance sidecar for the partners, according to Artemis.
The partnership is expected to start in the first half of 2027, subject to regulatory approvals and standard closing conditions. Windsor Life Re will be formed as an affiliated reinsurer supported by long term strategic capital commitments from both Wilton Re and Sun Life.
Under the deal terms, Windsor Life Re is expected to deploy about $900 million in capital, with both companies contributing roughly one third of the total equity. It is also expected to reinsure an initial in-force block of approximately $1.7 billion from Wilton Re.
Artemis adds that Windsor Life Re is expected to expand to around $10 billion in assets, with SLC Management serving as the lead asset manager for the reinsurer’s investments. Jefferies and Sidley Austin LLP advised Sun Life, while Ardea Partners LP and Wells Fargo served as financial advisors and Debevoise was the legal advisor.