Equitable enters reinsurance deal to mitigate $1B of Regulation 213 redundant reserves

Equitable Holdings, Inc.

EFLIC cedes 50% quota share of pre-2009 Group Retirement VA contracts (~$4B GA assets, $6B SA value) to First Allmerica (Global Atlantic).
Expects positive ceding commission of ~$1.1B, used to fund remaining Reg. 213 redundant reserves.
Transaction includes policies with highest guaranteed crediting rates of 3%; expected close in H2 2022.
AB (AllianceBernstein) to be preferred investment manager for ~half of transferred general account assets.
Limited impact to Group Retirement operating earnings of $10-15M per annum.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.