Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

Aviva Makes Life Reserve Financing Deal

By staff Writer

X
Your article was successfully shared with the contacts you provided.

Aviva Life and Annuity Company and a sister company, Aviva Life and Annuity Company of New York, have arranged $325 million in reserve financing.

Aviva Life and Aviva Life of New York are both units of Aviva USA Corp., Des Moines, Iowa, which is, in turn, a unit of Aviva P.L.C., London (NYSE:AV).

A unit of Cr?dit Agricole S.A. Paris, helped the Aviva units get the financing.

The financing will back Regulation Triple X term life obligations and Regulation AXXX universal life obligations, Aviva says. The term life products have level-premium terms of 10, 20 and 30 years, and the UL products include equity indexed products as well as guaranteed products.

Aviva is using Aviva Re USA II Inc., a wholly owned Aviva reinsurance captive subsidiary, as a mechanism for providing reinsurance credit based on the Cr?dit Agricole letters of credit, Aviva says.

Financing market conditions remain “challenging,” Aviva says.

-ab

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.