Canada Pension Plan Investment Board (CPPIB) recently announced that it has agreed to buy Bermuda-based Wilton Re Holdings Limited for US$1.8 billion in CPPIB’s first investment into the life insurance sector.
Canada Pension Plan Investment Board (CPPIB) recently announced that it has agreed to buy Bermuda-based Wilton Re Holdings Limited for US$1.8 billion in CPPIB’s first investment into the life insurance sector.
Wilton Re is a provider of life insurance and reinsurance solutions to the U.S. life insurance market and a leading acquirer of closed blocks of life insurance policies. Since its inception in 2005, Wilton Re has successfully invested over US$1.7 billion in a variety of strategic in-force reinsurance and M&A transactions.
“In making a long-term investment in Wilton Re, CPPIB views the company as an ideal platform through which CPPIB can deploy significant follow-on capital at scale in the U.S. life insurance sector,” said André Bourbonnais, Senior Vice-President, Private Investments, CPPIB, in a statement about the agreement. “Closed-block life insurance is an asset class with attractive risk-adjusted returns, well-suited to our long-term horizon.”
Bourbonnais said they share a common vision with Wilton Re’s management team, and plans to invest further capital into the business to support its continued growth. “As a AAA-rated long-term investor, we believe CPPIB is an ideal shareholder for Wilton Re’s employees, policyholders and client partners,” Bourbonnais said.
Toronto-based CPPIB is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries.
Wilton Re focuses on the U.S. life insurance market where the company provides risk capital and related services including M&A, reinsurance and longevity risk management. Wilton Re also partners with companies to implement new business strategies for middle market sales, with an emphasis on worksite, senior market and simplified term life insurance products.
Wilton Re is a provider of life insurance and reinsurance solutions to the U.S. life insurance market and a leading acquirer of closed blocks of life insurance policies. Since its inception in 2005, Wilton Re has successfully invested over US$1.7 billion in a variety of strategic in-force reinsurance and M&A transactions.
“In making a long-term investment in Wilton Re, CPPIB views the company as an ideal platform through which CPPIB can deploy significant follow-on capital at scale in the U.S. life insurance sector,” said André Bourbonnais, Senior Vice-President, Private Investments, CPPIB, in a statement about the agreement. “Closed-block life insurance is an asset class with attractive risk-adjusted returns, well-suited to our long-term horizon.”
Bourbonnais said they share a common vision with Wilton Re’s management team, and plans to invest further capital into the business to support its continued growth. “As a AAA-rated long-term investor, we believe CPPIB is an ideal shareholder for Wilton Re’s employees, policyholders and client partners,” Bourbonnais said.
Toronto-based CPPIB is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries.
Wilton Re focuses on the U.S. life insurance market where the company provides risk capital and related services including M&A, reinsurance and longevity risk management. Wilton Re also partners with companies to implement new business strategies for middle market sales, with an emphasis on worksite, senior market and simplified term life insurance products.
