Venerable Completes Acquisition of Corporate Solutions Life Reinsurance Company June 3, 2021
Venerable Holdings Inc. has completed its acquisition of Corporate Solutions Life Reinsurance Company (CS Life Re), a Delaware domiciled and New York licensed reinsurance company, from Equitable Holdings Inc.
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 more than $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 also reinsured its existing business into CS Life Re.
Venerable Completes Acquisition from Equitable Holdings
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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
Equitable Holdings Closes Legacy Variable Annuity Reinsurance Transaction with Venerable streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.