Nationwide reaches $16B universal life reinsurance deal with MassMutual

Nationwide has reached a reinsurance agreement with MassMutual covering a block of fixed universal life insurance policies representing more than 30,000 policyholders and nearly $16 billion in face value.

The transaction, expected to close in Q2 2026, will increase Nationwide Financial’s reserves by $6 billion. According to Nationwide, the company does not expect to add staff as part of the deal.

MassMutual will continue administering the policies and remain the point of contact for policyholders.

“This agreement represents a tremendous opportunity to put our strong capital position to work and grow our life insurance business, which was designated the third largest writer of life insurance in 2025.” – Kirt Walker, CEO of Nationwide .

“This deal marks a continued step forward for our life insurance business, which has established itself as a strong and stable industry leader with a deep portfolio of protection solutions.” – Craig Hawley, president of Nationwide Financial.