Articles from Global Atlantic Financial Group

Global Atlantic Financial Group (Global Atlantic), a leading insurance provider meeting the retirement and life insurance needs of individuals and institutions, today announced the launch of ForeStructured Growth II, an innovative registered index-linked annuity (“RILA”) designed to help balance growth potential with an element of downside protection.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions – in partnership with the Bermuda Economic Development Corporation (“BEDC”) – today announced the conclusion of the Second Annual Wave of Opportunity Pitch Competition. The co-sponsored event is designed to honor small business innovation and entrepreneurship in Bermuda.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance provider meeting the retirement and life insurance needs of individuals and institutions, today announced that it has awarded a $75,000 grant to BioQuest, a philanthropic NGO focused on biodiversity conservation using genomics. This funding is part of a three-year relationship that will be instrumental in advancing BioQuest’s biodiversity research program, with a particular focus on Bermuda's signature species.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions – in partnership with the Bermuda Economic Development Corporation (BEDC) – today announced the eight finalists for the upcoming Wave of Opportunity Pitch Competition. The event will take place at the Hamilton Princess Hotel on November 21st where the finalists will pitch their businesses for the chance to win one of five $25,000 prizes. It will be open to the public to attend and will also be livestreamed.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance provider meeting the retirement and life insurance needs of individuals and institutions, today announced the appointment of Tim Bridgers as Head of Preneed Sales, effective immediately.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced that Chief Operations Officer Emily LeMay and Chief Distribution Officer Jason Bickler have been appointed Co-Heads, Individual Markets, effective immediately. Ms. LeMay and Mr. Bickler will report to Rob Arena, Co-President of Global Atlantic.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, announced its inclusion in Barron’s annual guide to the 100 Best Annuities, marking the firm’s third consecutive appearance on this list. Annuities issued by Global Atlantic subsidiary Forethought Life Insurance Company were recognized in the following categories: Deferred-Income Annuities; Fixed-Indexed Annuity Income Guarantees; Registered Index-Linked Annuities (RILA); and Fixed-Indexed Annuities.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced a 10-year partnership with Service Corporation International (“SCI”), positioning it to become the preferred provider of preneed insurance for North America's largest provider of funeral, cremation and cemetery services. Preneed insurance is a type of life insurance policy created to help cover the costs associated with funeral expenses, providing peace of mind for the individual and alleviating the potential financial burden on their family.

While U.S. markets rebounded in 2023, retirement age investors are still prioritizing strategies for generating reliable retirement income and protecting their nest eggs against volatility, according to the Global Atlantic 2024 Retirement Outlook Survey, a new study from Global Atlantic Financial Group (“Global Atlantic”). Nearly two-thirds (61%) of respondents would rather protect their assets than try to grow them, but only half (54%) believe they are adequately protected from a market downturn.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced the closing of its $10 billion reinsurance transaction with Manulife Financial Corporation (NYSEMFC). The transaction, signed and previously announced between subsidiaries of the two companies last December, reinsures a seasoned and diversified block of Manulife’s life, annuity, and long-term care (“LTC”) insurance business originated in the US and Japan. It represents the third block transaction Global Atlantic has executed with Manulife and includes Global Atlantic’s first block reinsurance transaction in Japan. General account assets under management supporting the transaction at closing are approximately $10 billion.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced the completion of its newly renovated office space on the 18th floor of the iconic Gold Building in downtown Hartford. The expansion project includes a renovation of 29,000 square feet. This involved a full reconstruction of the 18th floor and a partial renovation of the 24th floor, which is currently near completion. The company now occupies an impressive 47,000 square feet of the Gold Building.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, will hold a media briefing with special guests, including Connecticut Governor Ned Lamont, Connecticut Department of Economic and Community Development Commissioner-designate Daniel O’Keefe, and Hartford Mayor Arunan Arulampalam, to unveil the finished renovations to the firm’s office space within the iconic Gold Building in downtown Hartford.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced it has signed a $10 billion reinsurance agreement with Manulife Financial Corporation (NYSEMFC).

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced it has closed a previously announced reinsurance agreement with MetLife, Inc. (NYSEMET). The transaction, signed between subsidiaries of the two companies in May, reinsures a seasoned and diversified block of MetLife’s U.S. retail annuity and life insurance business. General account assets under management supporting the transaction at signing were approximately $13 billion.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, has sold its 33% minority interest in a portfolio of 26 operating solar facilities and two energy storage facilities to APG, the largest pension provider in the Netherlands.

Global Atlantic Financial Group ("Global Atlantic"), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today released its latest Your Thriving Practice podcast series, “60/40: One Year Later,” which explores the failure of the 60/40 portfolio in 2022, its effect on investors’ savings, its 2023 rebound, and how to think about asset allocation going forward.

Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, today announced its inclusion in Comparably’s annual list of “Best CEOs for Women 2023” and Disability Equality Index’s “2023 Best Places to Work for People with Disabilities.”

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, recently announced its transition to the exclusive use of electronic applications for all multi-year guaranteed fixed-rate annuity sales.

Global Atlantic Financial Group (“Global Atlantic”) has announced the final close of Ivy Co-Invest Vehicle II LLC (“Ivy II”), a reinsurance co-investment vehicle. With the final close, Ivy II brings its total capital to more than $2.4 billion, which it will deploy, on behalf of its investors, alongside the Global Atlantic balance sheet in qualifying life and annuity reinsurance transactions. With the combined resources of its own balance sheet and Ivy II, Global Atlantic is well positioned to support its global clients’ needs for risk and capital solutions and capture what it believes is an attractive market opportunity for investors.

A new study from Global Atlantic Financial Group reveals that two-thirds (64%) of investors near or in retirement say protecting assets is more important than growing assets, and 92% are concerned about volatility, recession or high interest rates.

StreetWise Partners, a leading nonprofit organization, and Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced a $1 million commitment from Global Atlantic in support of StreetWise Partners. This strategic commitment underscores Global Atlantic's belief in the organization's mission to promote economic equity by actively connecting underrepresented talent with valuable career opportunities.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced it has signed a $19.2 billion reinsurance agreement with MetLife, Inc. (NYSEMET). The transaction, signed between subsidiaries of the two companies, will reinsure a seasoned and diversified block of MetLife’s U.S. retail annuity and life insurance business.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced the launch of the Global Atlantic Re foundation in Bermuda, which has been seeded with $1 million dedicated to the promotion of economic development, education and environmental sustainability initiatives throughout the island.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, has officially entered into a sponsorship of The SCORE Foundation. The SCORE Foundation is the philanthropic arm of SCORE, the nation's largest network of volunteer, expert business mentors.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced that Emily LeMay has been named Chief Operations Officer. She will be responsible for overseeing all aspects of the company’s Individual Markets operations, customer experience and analytics, enterprise project management office, underwriting and strategic sourcing.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced Sigal Zarmi has joined the company’s Board of Directors.

Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced that Paula Nelson, Managing Director, Head of Strategic Growth, Individual Markets, has joined the new Annuity Advisory Board established by LIMRA and LOMA. LIMRA and LOMA formed the Annuity Advisory Board along with three additional boards focusing on life insurance, retirement plans and workplace benefits markets.

Global Atlantic Financial Group (“Global Atlantic”), a leading retirement and life insurance company, has announced that Jamie Kosharek has joined the company as Head of Independent Channel Distribution. In this role, Jamie will lead all of Independent annuity and life distribution through IMO, FMO, and BGA partners, where GA is focused on forging greater and deeper relationships. With the addition of Ms. Kosharek, Global Atlantic continues its track record of attracting key industry talent. She will report to Dave Schalleur, Head of Partnerships.

Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, today announced it has signed an agreement with Equitable Financial Life Insurance Company (“Equitable”) to reinsure a portion of its group retirement annuities. The business Global Atlantic will reinsure currently has $10 billion in general account and separate account value.

Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, today announced its inclusion in the annual Barron’s list of the Best Annuities. Annuities issued by Global Atlantic subsidiary Forethought Life Insurance Company were recognized by Barron’s in the Registered Index-Linked Annuities and Fixed-Indexed Annuities categories.

Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, has announced two new executive hires in support of the growth of its institutional business and its international expansion into Asia. Neir Jhawar has joined Global Atlantic as the Chief Operating Officer for the Institutional Markets business, and Alireza Vaseghi has joined as Head of Asia & Global Head of Strategic Clients. With the addition of Mr. Jhawar and Mr. Vaseghi, Global Atlantic continues its track record of attracting key industry talent.

Global Atlantic Financial Group (Global Atlantic), a leading financial services company, announced the launch of ForeStructured Growth, the first registered index-linked annuity (RILA) to be issued by a company subsidiary. The annuity provides retirees with meaningful growth potential alongside interest crediting strategies designed to limit the risk of performance losses. Interest crediting options include Strategy Indices tied to a variety of market indices, an innovative crediting strategy, as well as three exclusive indices.

Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, announced the hiring of Monica Verma as the Chief Operating Officer for the company’s Investment Office. With the hiring of Ms. Verma, Global Atlantic continues its track record of attracting top industry talent.

Global Atlantic Financial Group, a leading financial services company, today announced that its subsidiary, Forethought Life Insurance Company, has been named a Ward’s 50® top life and health insurance company for the thirteenth consecutive year.

Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, today announced the launch of the Your Thriving Practice, a podcast developed to help financial professionals build, manage, and grow their businesses. Your Thriving Practice explores some of the most pressing topics facing financial professionals today, with discussions covering the latest news, industry trends, and expert insights needed to be successful.

Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, has announced a multi-year partnership with the National Forest Foundation. Under the agreement, Global Atlantic will donate up to $500,000 in total through 2025 in support of the National Forest Foundation’s tree-planting and reforestation programs, including donations on behalf of policyholders who elect electronic delivery (e-delivery) for their policies, statements and other correspondence.

Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, today announced its second reinsurance transaction in Asia, signing an asset-intensive flow reinsurance transaction with a leading Singapore-based insurance company. This deal, executed through its Bermuda-based subsidiary Global Atlantic Assurance Limited, follows a USD $4.8bn block reinsurance transaction with AXA Hong Kong in July 2021.

Global Atlantic Financial Group (“Global Atlantic”), a leading U.S.-focused annuity and life insurance company, today announced that Paula Nelson, Managing Director & Head of Growth Strategy, was recognized by the Insured Retirement Institute (IRI) as the recipient of their 2022 Industry Champion of Retirement Security award.

Global Atlantic Financial Group (Global Atlantic), a leading US-focused annuity and life insurance company, has named Peggy Poon as Treasurer in support of the company’s growing industry and capital markets presence.

A study from Global Atlantic Financial Group (Global Atlantic) revealed that three out of five retirement-age investors (61%) believe that low interest rates, combined with rising inflation, will make it harder to create a retirement income stream that will last their lifetimes. In addition, a quarter of participants (24%) said they are extremely or very concerned about the impact inflation will ultimately have on their ability to live comfortably in retirement.

A new study from Global Atlantic Financial Group (Global Atlantic) reveals that the next generation of retirees, defined as those without a traditional pension, is divided on their outlook for the economy in 2022, and nearly nine in ten (87%) have recently experienced “sticker shock” when purchasing groceries, dining out, or traveling.

Global Atlantic Financial Group (“Global Atlantic”), a leading U.S.-focused annuity and life insurance company, has officially launched the $10 million Global Atlantic Foundation by committing a million dollar grant in support of the Accion Opportunity Fund (“AOF”), a leading nonprofit that provides small businesses with access to capital, business networks and coaching.

Global Atlantic Financial Group (“Global Atlantic”), a leading U.S.-focused annuity and life insurance company, has appointed Manu Sareen as Co-President alongside Rob Arena, effective immediately. Mr. Sareen will partner with Mr. Arena supporting Chairman and CEO Allan Levine in operating the business and executing the company’s growth strategy. Mr. Sareen will also continue to oversee the company’s Institutional Markets business.

New research from Global Atlantic Financial Group (Global Atlantic) reveals that retirement age investors are attuned to low interest rates and inflation, and open to professional financial help to navigate these economic conditions.

eRESI Mortgage, LLC (“eRESI”), an innovative mortgage funding platform that offers comprehensive private capital solutions to the residential mortgage market, today announced that subsidiaries of The Global Atlantic Financial Group LLC (“Global Atlantic”), a leading life and annuity insurance company, have made a strategic investment and capital commitment to become its majority owner. eRESI Mortgage will continue to operate under a newly formed entity, eRESI Capital LLC, being led by Gregory Tsang (CEO) and Tim Wang (President).

Global Atlantic Financial Group, a leading U.S.-focused annuity, life insurance and reinsurance company, today announced that it has appointed Alberto Autmezguine as Managing Director, Chief Financial Officer and Chief Actuary of its Bermuda companies business. Mr. Autmezguine will be responsible for all financial and actuarial strategy for the business. He will report to Manu Sareen, President of Global Atlantic’s Institutional Markets business.

Global Atlantic Financial Group (“Global Atlantic”), a leading U.S.-focused annuity, life insurance and reinsurance company, today announced the signing of a USD $4.8 billion reinsurance transaction between its Bermuda-based subsidiary Global Atlantic Assurance Limited and AXA China Region Insurance Company Limited and AXA China Region Insurance Company (Bermuda) Limited (“AXA HK”). This is Global Atlantic’s first block reinsurance transaction sourced outside the United States.

Global Atlantic Financial Group (“Global Atlantic”), a leading U.S.-focused annuity, life insurance and reinsurance company, today announced the signing of an $8.0 billion annuity reinsurance transaction between two of its insurance subsidiaries (Commonwealth Annuity and Life Insurance Company and First Allmerica Financial Life Insurance Company) and Ameriprise Financial (“Ameriprise”) insurance subsidiaries (RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York). The deal is comprised primarily of fixed-rate and income annuities alongside a smaller component of fixed index annuities. The two companies announced their first reinsurance transaction in 2019.

Global Atlantic Financial Group, a leading annuity and life insurance company, today announced that it has appointed Edward Root as Managing Director leading the firm’s growing pension risk transfer (PRT) reinsurance business. Mr. Root will report to Manu Sareen, President of Institutional Markets, Global Atlantic, and Chief Executive Officer, Global Atlantic Re Limited.