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BRIEF-Zurich Insurance reinsures $2.3 bln book with Reinsurance Group of America
May 18, 2017 / 4:13 PM / 4 months ago

BRIEF-Zurich Insurance reinsures $2.3 bln book with Reinsurance Group of America

May 18 (Reuters) - Zurich Insurance Group Ag

* says subsidiary Farmers New World Life signed an agreement with Reinsurance Group of America to reinsure a portion of its closed U.S. annuity book, representing reserves of roughly $2.3 billion

* “The transaction with Reinsurance Group of America is another example of how the Group actively manages its capital and sharpens its business profile. This transaction reduces risk and continues the process of simplifying the group and releasing capital from non core activities as communicated at the time of our investor day in 2016,” CFO George Quinn said in a statement Further company coverage: (Reporting by Zurich newsroom)

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