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By 
May 18, 2021 at 02:25 PM
What You Need to Know
- Resolution Life made a $1.25 billion deal with Voya earlier this year.
- Some of its investors are insurers.
- It wants to buy in-force business, not compete for new sales.
A company that hauls away life insurers’ unwanted blocks of life insurance and annuity business now has more cash it can use to do that.
Resolution Life Group Holdings LP says it has raised $1.6 billion in new capital for making life insurance portfolio deals. The Hamilton, Bermuda-based company has raised a total of $5 billion in capital since it came to life in 2018.
The investors are financial institutions, insurance companies, pension plans, sovereign wealth funds and family offices, the company says.
Resolution Life acquired a $1.25 billion block of individual life insurance and annuity business from Voya Financial Inc. earlier this year.
Now managing $60 billion of assets, the company employs 1,500 people and has connections with about 2.5 million policyholders, according to company figures.
