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Citigroup Transfers Coinsurance Agreement with Primerica to Swiss Re

NEW YORK--(BUSINESS WIRE)--Citigroup announced today that a subsidiary of Swiss Re Life & Health America Inc. (“Swiss Re”), replaced Prime Reinsurance Company, Inc. (“Prime Re”) as Primerica Life Insurance Company’s reinsurer on a coinsurance agreement covering a block of term life insurance policies that were in force on December 18, 2009. The transaction closed today and resulted in a reduction of approximately $2.5 billion of assets from Citi Holdings’ balance sheet. Prime Re, a subsidia

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