Global Atlantic Financial Group, the insurer divested by Goldman Sachs (GS) Group Inc. this year, agreed to buy closely held Forethought Financial Group Inc. to expand sales of life and retirement products.
The purchase will increase assets at Global Atlantic to more than $31 billion, the Bermuda-based insurer said today in a statement that didn’t include terms. Forethought had $6.3 billion in assets as of Dec. 31, according to its website.
Global Atlantic, led by Chief Executive Officer Allan Levine, is expanding distribution after Goldman Sachs sold a majority stake in the firm to private investors. The insurer announced in May that it would buy Aviva Plc’s U.S. life business, with $10 billion of assets, in a reinsurance deal. Read more.
The purchase will increase assets at Global Atlantic to more than $31 billion, the Bermuda-based insurer said today in a statement that didn’t include terms. Forethought had $6.3 billion in assets as of Dec. 31, according to its website.
Global Atlantic, led by Chief Executive Officer Allan Levine, is expanding distribution after Goldman Sachs sold a majority stake in the firm to private investors. The insurer announced in May that it would buy Aviva Plc’s U.S. life business, with $10 billion of assets, in a reinsurance deal. Read more.
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