Citigroup transfers coinsurance agreement with Primerica to Swiss Re

April 1, 2016 4:01 AM

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Citigroup transfers coinsurance agreement with Primerica to Swiss Re

Citigroup Inc (C.N) replaced Prime Reinsurance Company Inc with a subsidiary of Swiss Re Life & Health America Inc (SRENH.S) as Primerica Life Insurance Company's reinsurer on a coinsurance agreement, the U.S. bank said on Thursday.

The bank said the transaction would result in a reduction of about $2.5 billion of assets from Citi Holdings' balance sheet.

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