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Global Atlantic closes reinsurance transaction

Global Atlantic Financial Group Ltd. closed a reinsurance transaction involving The Hartford Financial Services Group Inc.'s sale of Talcott Resolution Inc. to an investor group.

It reinsured from Talcott Resolution $9 billion of fixed deferred annuities, as well as other spread-based reserves.

Global Atlantic was also part of the investor group, buying through a subsidiary approximately 9% of the entity that closed its acquisition of Talcott Resolution on May 31.