Principal Reinsures $25 Billion of Fixed Annuity and Universal Life Business

On January 31, 2022, Principal Financial Group, Inc. (PFG) entered into an agreement with an affiliate of Sixth Street Partners (SSP) and its insurance platform Talcott Resolution (Talcott), to reinsure a total of $25 billion in policy reserves (and accompanying investments), which relate to fixed annuities and universal life insurance with secondary guarantees.

See the detailed analysis here.