Equitable Holdings Announces Material Reinsurance Transaction with RGA

Equitable Holdings Inc. disclosed in its Form 8-K filing that on February 23, 2025, its subsidiaries—including Equitable Financial Life Insurance Company, Equitable Financial Life Insurance Company of America, and Equitable Financial Life and Annuity Company—entered into a Master Transaction Agreement with Missouri-based RGA Reinsurance Company.

Under the terms of the agreement, upon closing, RGA will enter into separate coinsurance and modified coinsurance agreements with two of the subsidiaries, while the remaining subsidiary will establish a coinsurance agreement. Each of the ceding companies will transfer a 75% quota share of its in-force individual life insurance block to RGA. Additionally, the companies will cede their general account liabilities on a coinsurance basis and any separate account liabilities, if applicable, on a modified coinsurance basis. RGA is set to deposit supporting assets into separate trust accounts for the benefit of each ceding company, thereby securing its obligations under the respective reinsurance agreements.

As part of the strategic transaction, Equitable anticipates generating over $2 billion in value. This total includes benefits such as a positive ceding commission and the release of capital, which are expected to bolster the company’s broader capital redeployment strategy. In conjunction with the reinsurance component, the agreement provides that within three months of closing, AllianceBernstein L.P.—an affiliate of Equitable—will enter into an investment advisory arrangement with RGA to manage approximately 70% of the assets supporting the reserves associated with the ceded policies, for a minimum term of twenty-five years.

The filing notes that the transaction is subject to customary closing conditions, including receipt of the necessary regulatory approvals and the absence of any material adverse effect on either RGA or the reinsured contracts. The consummation of the transaction is anticipated to occur by mid-2025.

The Company also noted its subsequent press release on February 24, 2025, which provided additional details on the transaction, and announced a conference call scheduled for 8:00 a.m. ET the same day. Further information, including a presentation and related exhibits, is available on Equitable Holdings’ Investor Relations website.

This latest reinsurance transaction is part of Equitable Holdings’ broader strategy to optimize its life insurance operations, redeploy capital, and focus on higher-return business segments.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Equitable’s 8K filing here.

About Equitable

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.