Upstream Life Insurance Company Announces $300 Million Transaction with Antarctica Capital
Upstream Life Insurance Company (the “Company”) announced that they have entered into an agreement under which the Company may cede up to $300 million of fixed annuity statutory reserves to Antarctica Capital.
- Upstream Life Insurance Company (the “Company”) announced that they have entered into an agreement under which the Company may cede up to $300 million of fixed annuity statutory reserves to Antarctica Capital.
- The reinsured block may consist of certain durations of the Company’s Secure Legacy MYGA statutory reserves over the 2023 and 2024 issue years.
- The transaction is expected to improve the Company’s capital position, including increases to free cash flow and RBC coverage.
- This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of any securities that may be referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.