Appleby Bermuda advised Warwick Re Ltd. in relation to a quota share reinsurance transaction to support a leading UK bulk purchase annuities insurer (BPA), for a near $500 million transaction completed in December 2023. This is Warwick Re’s second transaction.
Warwick Re is a provider of innovative reinsurance solutions to cedants in the life insurance, annuity and pension sectors through both in-force and flow agreements, and will offer significant reinsurance and asset management capabilities to further support the BPA’s business.
Their innovative, collateralised structures address a growing need in the UK BPA market through reinsuring asset and longevity risks at attractive pricing levels to support insurers’ originations.
Bermuda Managing Partner Brad Adderley and Partner Matthew Carr advised on the regulatory and security aspects of the transaction.
