Resolution Life and Pacific Life Re have each entered into separate reinsurance agreements with Tokio Marine & Nichido Life Insurance (Anshin Life).  

Anshin Life is a domestic life insurance subsidiary of Tokio Marine Holdings. 

Resolution Life’s deal involves an in-force portfolio of premium-paying and paid-up whole life policies, with the company assuming materially all associated risks including interest rate risk, policyholder behaviour and mortality risk.  

Anshin Life will continue to service and administer these policies.  

Resolution Life Asia CEO Rushabh Ranavat said: “We are proud to partner with a respected institution such as Anshin Life on a transaction that demonstrates our ability to meet the evolving needs of life insurers in mature markets like Japan – across all market conditions.  

“We look forward to further growing our presence in Japan and the region more broadly, one enduring partnership at a time.” 

Legal counsel for Resolution Life was provided by Mori Hamada & Matsumoto and Linklaters. 

Pacific Life Re’s agreement, the second with Anshin Life following a transaction in 2024, covers in-force whole life policies and focuses on reducing long-term interest rate risk.  

Aon and Eversheds Sutherland provided support for this deal. 

Pacific Life Re executive vice-president of Savings & Retirement Phill Beach said: “We are delighted to announce this second transaction with Anshin Life, reinforcing our strong partnership.  

“Providing these types of solutions in Japan is a key part of our core business strategy. Through the transfer of Anshin Life’s risk to Pacific Life Re, their organisation is able to more efficiently manage and optimise their product portfolio, helping to achieve broader business objectives.”