Deutsche Bank acted as sole Financial Advisor to Allianz in the establishment of a new independent strategic reinsurance platform, Sconset Re Ltd.
Sconset Re will reinsure a USD 4 billion block of annuity liabilities and will enter into a forward flow agreement for USD 5-10 billion of new business. PIMCO will manage the majority of the investment portfolio.
Sconset Re will be capitalized through equity investments from high-quality institutional partners, including Voya and Antares, who will also each manage a portion of Sconset’s asset portfolio.
This transaction is representative of the opportunity that Allianz sees with its life and asset management business in the U.S
Deutsche Bank acted as the sole Financial Advisor to Allianz on the transaction, and also acted as the sole Arranger of a debt financing facility to Sconset Re Ltd.
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Sconset Re will reinsure a USD 4 billion block of annuity liabilities and will enter into a forward flow agreement for USD 5-10 billion of new business. PIMCO will manage the majority of the investment portfolio.
Sconset Re will be capitalized through equity investments from high-quality institutional partners, including Voya and Antares, who will also each manage a portion of Sconset’s asset portfolio.
This transaction is representative of the opportunity that Allianz sees with its life and asset management business in the U.S
Deutsche Bank acted as the sole Financial Advisor to Allianz on the transaction, and also acted as the sole Arranger of a debt financing facility to Sconset Re Ltd.
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