Carlyle Group Acquire 19.9% Stake In DSA Re From AIG - Quick Facts

(RTTNews) - Alternative asset manager Carlyle Group (CG) agreed Wednesday to acquire a 19.9 percent stake in DSA Re from insurer American International Group, Inc. (AIG).

AIG established DSA Re in February 2018 as a Bermuda-based, composite reinsurer of its Legacy insurance portfolio. DSA Re currently reinsures $36 billion of AIG's Legacy Life and Annuity and General Insurance liabilities.

The transaction is expected to close in approximately 60 days, subject to required regulatory approvals and other customary closing conditions.

Carlyle also entered into a strategic asset management relationship with DSA Re whereby DSA Re and AIG will, in aggregate, allocate $6 billion of assets into various Carlyle managed strategies across corporate private equity, real assets and private credit.

Further, Carlyle and AIG announced a strategic partnership to build DSA Re into a standalone provider of reinsurance, claims handling, and run-off management solutions for long-dated, complex risks to the global insurance industry.