Japan Post Insurance has signed two deals with Bermuda based reinsurers Aflac Re Bermuda and Talcott Re, through which it aims to manage legacy portfolios, reduce capital burdens, and combat domestic market stagnation.
In the first deal, Aflac Re Bermuda will reinsure a block of whole life annuities through coinsurance and financial details of this deal were not revealed.
In the second deal, Talcott Re will reinsure an additional JPY100bn ($625m) block of in-force payout annuities, which builds on the initial JPY550bn ($3.6bn) deal between Japan Post and Talcott Re that took effect a year ago.
Both of the Japan Post Insurance deals were effective from 31 March 2026, and both involve the Japanese insurer continuing to service and administer the policies.