Strong deal momentum accelerates growth for Somerset Re

Somerset Re, a provider of reinsurance solutions for global life insurance and annuity business, has experienced quick growth as it enters 2025 with strong deal momentum.

Over the last decade, the reinsurer has had a strong history of successful deal execution which has contributed towards building a well-diversified book across the life and annuity space.

The last few months alone have had significant activity, with the company completing a series of strategic transactions that further strengthen its position as a leader in reinsurance solutions.

This growth follows the recent capital raise from Somerset Re’s parent company, Aquarian.

Since the end of 2024’s third quarter, Somerset Re has successfully bound multiple transactions, such as: the execution of a new business flow partnership for Fixed Index Annuities (FIA) with a major U.S. insurer; and a An inforce Corporate-Owned Life Insurance (COLI) and Bank-Owned Life Insurance (BOLI) transaction with a U.S. life & annuity insurer.

The transactions also include a long-term disability reinsurance transaction with a major U.S. disability insurer, which has been completed; and a new business flow partnership for Multi-Year Guaranteed Annuities (MYGA) and FIAs with a U.S. life and annuity insurer, through Somerset Re’s U.S. entity, Somerset Reinsurance Company, which is closing in Q1 2025.

The transactions that are pending regulatory approval are an inforce Life portfolio transaction with administration transfer with a global insurer; and a life block and flow transaction with a U.S. insurer, through Somerset Reinsurance Company.

Manisha Dias, Head of New Business Development at Somerset Re, said: “We are excited to continue growing alongside both our existing and new partners. We are incredibly proud of our teams for completing such a diverse range of complex transactions in a short timeframe.

“Their expertise, combined with the strong relationships we’ve built with our clients, has been instrumental to our success. We look forward to the opportunities ahead in 2025.”

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