Zurich unit in $2.3bn annuity reinsurance deal with RGA Re

A subsidiary of Zurich Insurance Group has entered into a $2.3 billion reinsurance arrangement on a closed book of annuities with Reinsurance Group of America.

The recently announced transaction saw Farmers New World Life, a subsidiary of Zurich, enter into an agreement with Reinsurance Group of America to reinsure a portion of its closed U.S. annuity book.

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