Equitable reinsures 75% of individual life block with RGA; frees $2B+ for AB stake increase and buybacks

Equitable Holdings, Inc.

Over $2B value from ceding 75% of in-force individual life block on pro-rata basis to RGA.
Plans to redeploy capital: tender offer for up to $1.8B of AB units and $500M incremental share repurchases.
Transaction expected to close mid-2025, subject to regulatory approvals and customary conditions.
AB to continue managing ~70% of general account assets being reinsured for at least 25 years.

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