Sun Life Financial and Wilton Re have entered into a definitive agreement to establish a strategic reinsurance and asset management partnership aimed at expanding their presence in the US life insurance and annuity markets.
Under the terms of the deal, Wilton Re will create Windsor Life Re, a newly established affiliated reinsurer domiciled in the United States and Bermuda. The venture is backed by long-term capital commitments from both founding entities and is expected to deploy approximately $900 million in capital.
Wilton Re will manage Windsor Life Re, which will support the growth of Wilton Re’s core in-force life and annuity block origination business in the US. To lead the investment strategy, SLC Management, Sun Life’s global institutional alternatives asset manager, has been designated as the lead asset manager for Windsor Life Re’s investments.
Tom Murphy, President of Sun Life Asset Management, highlighted the strategic significance of the collaboration, stating: “Our partnership with Wilton Re enhances our scale and presence in insurance asset management and provides strategic access to permanent capital to accelerate the growth of our global alternatives asset manager, SLC Management.”
The capital structure of the joint venture will see both Sun Life and Wilton Re each providing approximately one-third of the total equity capitalization. Initially, Windsor Life Re will reinsure an in-force block of approximately $1.7 billion from Wilton Re, with future business to be ceded on a quota share basis. At full scale, Windsor Life Re is projected to manage approximately $10 billion in assets.
The partnership is targeted for launch in the first half of 2027, subject to regulatory approvals and standard closing conditions.
Dmitri Ponomarev, CEO of Wilton Re, commented on the venture’s outlook: “Windsor Life Re will support Wilton Re’s strategic growth, broadening our capital resources and enhancing our capabilities in the in-force life insurance and annuity market. Sun Life is a widely respected global insurer and asset manager with a track record and depth of expertise in investment management for insurance liabilities.”
Also Read
- U.S. Imposes Sanctions on Far-Left Extremist Networks, Including Autistici/Inventati
- US Envoy Warns Gaza Truce at Risk of Irreversible Collapse If Ceasefire Fails
- ‘In Ceuta, they are eating the cats’: Fake images and a persistent rumour
- Your 60/40 Portfolio May Be 100% Exposed to a Dying Dollar, Bitwise Says