Resolution Life US Holdings has announced the signing of a $9.4 billion reinsurance transaction between its insurance subsidiary, Security Life of Denver Insurance Company (SLD) and The Lincoln National Life Insurance Company, a subsidiary of Lincoln National Corporation.
The deal consists primarily of bank and corporate owned life insurance business alongside a smaller component of universal life business.
Under the agreement, Lincoln will cede $9.4 billion in reserves and retain administration of the policies.
The transaction with SLD is effective as of October 1, 2021 and is not subject to any closing conditions or regulatory approval requirements.
