Somerset Re has a strong history of successful deal execution over its last decade building a well-diversified book across the life and annuity space. The last few months alone have had significant activity, with the company completing a series of strategic transactions that further strengthen its position as a leader in reinsurance solutions. This growth follows the recent capital raise from Somerset Re’s parent company, Aquarian.
Since the end of 3Q2024, Somerset Re has successfully bound multiple transactions, including:
- A new business flow partnership for Fixed Index Annuities (FIA) with a major U.S. insurer (executed)
- An inforce Corporate-Owned Life Insurance (COLI) and Bank-Owned Life Insurance (BOLI) transaction with a U.S. life & annuity insurer (executed)
- A long-term disability reinsurance transaction with a major U.S. disability insurer (executed)
- A new business flow partnership for Multi-Year Guaranteed Annuities (MYGA) and FIAs with a U.S. life and annuity insurer, through Somerset Re’s U.S. entity, Somerset Reinsurance Company (closing in 1Q2025)
- An inforce Life portfolio transaction with administration transfer with a global insurer (pending regulatory approval)
- A life block and flow transaction with a U.S. insurer, through Somerset Reinsurance Company (pending regulatory approval)
“We are excited to continue growing alongside both our existing and new partners,” said Manisha Dias, Head of New Business Development at Somerset Re. “We are incredibly proud of our teams for completing such a diverse range of complex transactions in a short timeframe. Their expertise, combined with the strong relationships we’ve built with our clients, has been instrumental to our success. We look forward to the opportunities ahead in 2025.”
Somerset Re remains committed to delivering innovative, tailored reinsurance solutions and looks forward to further strengthening its position as a trusted partner in the industry.
About Somerset Re
Somerset Re is a leading provider of reinsurance solutions for life insurance and annuity business globally, helping its clients with growth, managing capital efficiency and improving their financial results. With offerings that encompass new business support, legacy block management, and capital-driven reinsurance solutions, Somerset Re delivers tailored strategies to meet the diverse needs of its clients. Notably, large insurers ranked Somerset Re No. 1 in the Business Capability Index (BCI), according to NMG Consulting's 2023 U.S. Structured Financial Solutions study for the Asset-intensive Segment. Somerset Re operates under the ownership of Aquarian. For more information, visit www.somersetre.com.
Somerset Reinsurance, Ltd. – Hamilton, Bermuda
Somerset Reinsurance Company – Orlando, Florida
About Aquarian
Aquarian is a diversified global holding company with a strategic portfolio of insurance and asset management solutions providing investment opportunities to millions of people. With over $21.8 billion in assets under management, Aquarian invests across the capital structure and creates tailored financing solutions that enable great, high-quality companies to grow and evolve. For more information, visit www.aquarianlp.com.
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"We are incredibly proud of our teams for completing such a diverse range of complex transactions in a short timeframe. Their expertise, combined with the strong relationships we’ve built with our clients, has been instrumental to our success."
Contacts
Media Contact:
media@aquarianlp.com
