Aspida Life Re, a Bermudian-based life and annuity reinsurance company, has executed its second reinsurance transaction in Japan.

The reinsurer said this milestone marked a significant step in its ongoing strategy to expand its global footprint and deliver innovative reinsurance solutions to life and annuity insurance partners worldwide.

The transaction was completed with a highly rated Japanese life insurance carrier. Aspida Re, rated A- (Excellent) by AM Best, will reinsure new or incoming flow business. The reinsured product is a Japanese yen-denominated fixed annuity.

Aspida Re said this demonstrated their ability to manage foreign exchange risk and deliver tailored solutions to its cedants.

“This transaction is highly strategic for Aspida Re,” said David Florian, Aspida’s chief executive officer. “It reflects our deep commitment to the Japanese market and our broader vision of supporting insurers around the world with innovative, capital-efficient reinsurance solutions.”

He said the firm’s continued growth in Asian markets showed its agility and expertise in navigating complex regulatory and financial environments, while reinforcing its role as a trusted partner in the global reinsurance landscape.

“We are excited to secure our second Japanese reinsurance agreement,” said Aspida Re’s president and chief actuary, Jon Steffen. “Our flexibility and customised solutions allow us to provide significant advantage to clients and partners, no matter their location.”