Global Atlantic Adds $2.4B in Life and Annuity Deal Cash

July 18, 2023 by Allison Bell

A subsidiary of KKR has raised $2.4 billion in reinsurance deal money from outside investors.

Global Atlantic announced Monday that it plans to use the cash to provide reinsurance for life insurance and annuity issuers.

Manu Sareen, co-president of Global Atlantic, said this is a great time to have a big new pool of reinsurance capital.

Factors driving strong demand for reinsurance include “industry-wide restructuring, an evolving macroeconomic environment, and lower availability of historical sources of capital for the industry,” Sareen said.

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Originally Posted at ThinkAdvsior on July 11, 2023 by Allison Bell.