Fidelity Starts an Annuity Reinsurer in Bermuda

July 25, 2023 by Allison Bell

Fidelity Investments is starting a Bermuda-based reinsurer that will start out reinsuring retail fixed annuities issued by the company’s Fidelity Investment Life Insurance Co. business.

The new reinsurer, Soteria Reinsurance Ltd., will also provide reinsurance for Fidelity Investment Life moves to absorb employers’ pension plan risk through pension risk transfers, according to a brochure posted by Fidelity’s Boston-based parent company, Fidelity Management & Research Co., in March.

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Originally Posted at ThinkAdvsior on July 19, 2023 by Allison Bell.