Fourth transaction in 18 months helps life and annuity business reach $3.5 billion in assets
Chicago, December 15, 2017 – Kuvare Holdings LP (“Kuvare” or “The Company”) is pleased to announce the signing of a commercial agreement to assume approximately $850 million of fixed annuity reserves in a reinsurance transaction through its Bermuda subsidiary, Kuvare Life Re Ltd. (“KLR”). The reinsurance agreement is in partnership with a leading international and highly-rated insurance company, and provides financing support for a multi-billion dollar corporate transaction.
“We’re incredibly proud of our track record of rapidly establishing a premier life and annuity insurance platform that delivers valuable solutions to consumers seeking growth and protection of their wealth,” said Kuvare founder & CEO Dhiren Jhaveri. “This transaction is a prime example of our successful strategy of driving growth in our reinsurance business. Kuvare will continue to distinguish itself as a trusted and reliable reinsurance solution provider for insurance companies seeking a partner with extensive expertise in this space.”