The transaction is being written by Brookfield Annuity Company and Legal & General Reinsurance Company Limited (“Legal & General Reinsurance”) who have recently entered into a strategic partnership under which Legal & General Reinsurance will provide quota-share reinsurance for Canadian PRT transfers. This is the first PRT transaction for the strategic partnership, with Legal & General Reinsurance taking a meaningful quota-share of the total buy-in liabilities written by Brookfield Annuity Company.
Including this transaction, Legal & General has now written £2.5 billion in International PRT since its first transaction in 2015. Central to Legal & General’s international strategy is the US PRT business, which has written USD $2.7 billion in premiums across 45 transactions. Legal & General offers a full suite of solutions in the US PRT market for a range of transaction sizes, including buy-ins, buyouts and deferred lives.
Source: Legal and General
