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Serenova Re closes asset-intensive deal with US life insurer
The Bermuda reinsurer is reporting this as its first asset-intensive reinsurance transaction in the US, following a recent capital raise.
Serenova Re, a Bermuda-based reinsurer backed by Bain Capital and part of the Federal Life Group, has completed a strategic reinsurance partnership with a highly rated, well-established US life insurance carrier, Reinsurance News reports.
The reinsurer will be the life carrier’s preferred partner for the transaction, providing tailored solutions aimed at supporting balance sheet efficiency and the carrier’s long-term growth strategy.
Serenova Re said the deal also reflects a broader shift in how established insurers are approaching reinsurance, and noted that it follows a recent capital raise that strengthens its ability to pursue additional reinsurance opportunities in the future.