Dai-Ichi Life establishes a reinsurance company
Dai-Ichi Life Holdings announced that it has established and started operations of a reinsurance company based in Hamilton, Bermuda. This reinsurance company has been capitalized with a total of $65 million and will initially assume insurance underwritten by Dai-ichi Frontier Life Insurance Company, a wholly owned subsidiary of Dai-ichi Life.
“The company aims to ensure financial soundness and improve capital efficiency through optimal capital allocation, while pursuing synergies as an insurance group. The group will continue to develop life insurance business globally in nine different countries, by promoting the utilization of intra-group reinsurance such as with this newly established reinsurance company.”