AllianceBernstein to Expand Insurance Business in Partnership With Reinsurance Group of America

MT Newswires Live11-13 23:06

AllianceBernstein (AB) said Wednesday it plans to expand its insurance business through a non-exclusive partnership with Reinsurance Group of America (RGA).

Financial details weren't disclosed.

AllianceBernstein said it has been named as one of the lead investors in Ruby Reinsurance, a reinsurance sidecar by Reinsurance Group of America focused on the US asset-intensive market.

Under the partnership, AllianceBernstein will manage private alternative assets for Reinsurance Group of America's general account and appoint a member to Ruby Reinsurance's board, the company said.

Price: 35.94, Change: -0.24, Percent Change: -0.66

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