F&G agrees to divest Bermuda life and annuity reinsurance unit

A subsidiary of F&G Annuities & Life has entered into a deal to sell its Bermuda-based life and annuity reinsurance unit, F&G Life Re, to newly formed Ancient Financial. Once the deal is finalised, F&G Life Re, a Bermuda-based reinsurer, will operate under the name Ancient Re. F&G and Ancient will also enter a forward-flow reinsurance agreement with Ancient Re. F&G CEO Chris Blunt said: “This is a true win-win transaction for both F&G and Ancient. We had the opportunity to monetise an operation that wa ...