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Venerable Closes Reinsurance Transaction with Manulife Financial Corporation

Venerable Closes Reinsurance Transaction with Manulife Financial Corporation

Venerable Completes Acquisition from Equitable Holdings

Venerable Completes Acquisition from Equitable Holdings News provided by Share this article Share this article WEST CHESTER, Pa., June 1, 2021 /PRNewswire/ Venerable Holdings, Inc. ( Venerable ) today announced the completion of its acquisition of Corporate Solutions Life Reinsurance Company ( CS Life Re ), a Delaware domiciled and New York licensed reinsurance company, from Equitable Holdings, Inc. (NYSE: EQH) ( Equitable Holdings ). With the close of this transaction, Venerable s pro forma assets under management and reinsurance increase to approximately $70 billion. On a pro forma basis, Venerable has more than doubled its general account assets from $9 billion to $19 billion, in addition to over $51 billion in separate account reinsured. The transaction includes reinsurance of a legacy variable annuity block from Equitable Financial Life Insurance Company with the combined deal representing $36.5 billion of underlying account value and general account assets. Venerable has

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