Bermudian-based Resolution Life has entered into a new UK pension risk transfer with a leading British insurer.

This transaction, Resolution’s fourth in two months following three recent deals in Asia, builds on the strong momentum established this year.

The transaction transfers financial risk to Bermudian-based reinsurer Resolution Re, a subsidiary of Resolution Life, “supporting risk diversification in the UK market, demonstrating the company’s ability to deliver solutions that meet the needs of primary insurers and reinforcing Resolution Life’s commitment to serving the UK and European markets as a trusted, highly rated counterparty”, the company said.

Rushabh Ranavat, Resolution Life chief executive officer, Asia and Europe said: “This transaction is the result of a strong partnership, global capabilities, and a commitment to innovation. We are proud to build on our European presence and be of service to the primary life industry in the UK.”

The company gave no details of the size of the transaction.

Resolution Life is a global life insurance group focusing on reinsurance and the acquisition and management of portfolios of life insurance policies. Part of the Nippon Life group, Japan’s largest life insurer, Resolution Life manages approximately $80 billion of assets and has operations in Bermuda, the US, Britain and Singapore.