CORRECTED-U.S. insurance asset sales attract new private equity players, strategies

February 10, 2021 by Alwyn Scott, David French 5 MIN READ

NEW YORK, Feb 8 (Reuters) – U.S. insurers are stepping up sales of annuities and other capital-intensive assets amid a surge in interest from new and established private equity buyers hungry to boost the amount of money they manage, according to industry sources and public data.

Companies such as Sixth Street Partners and KKR & Co Inc have spent billions of dollars in the last year buying up insurance assets they can use as foundations for further acquisitions, while Blackstone Group Inc last month bought a business after restructuring its insurance operations under a new executive last year.

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Originally Posted at Reuters on February 8, 2021 by Alwyn Scott, David French 5 MIN READ.