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Sixth Street has agreed to buy insurance company Talcott Resolution for $2 billion, the latest deal in a private-equity gold rush in the insurance sector.
The acquisition fits within Sixth Street s Tao platform, which serves as an all-purpose investment vehicle to deploy capital in various forms.
The deal is expected to close in the second quarter.
Investment firm Sixth Street Partners has agreed to buy the insurance company Talcott Resolution for $2 billion, the latest sign that the private-equity industry is licking its chops at the long-term, steady returns offered by annuities and life insurance policies.
NAFA Welcomes 2021 Board of Directors
Board Grows as New Electees Look to Drive Engagement through Continued Innovation and Annuity Leadership Washington, DC, January 16, 2021 (PR.com) The general membership of NAFA, the National Association for Fixed Annuities, unanimously approved an extended slate of candidates presented for its 2021 board of directors. Nominations were received from the membership at large, and candidates were vetted by the current board before being proposed at the association’s annual meeting in November. Due to the ongoing coronavirus pandemic, the meeting was held virtually and the vote was captured digitally.
With an exceptional talent pool under consideration, the board moved to expand its number of board members to 25. Membership voted in favor of the expansion, electing eight new members and two members to a second term. These industry leaders are poised to help the association continue navigating an unprecedented environment as well as potential
Origis Energy Completes Management Buyout of Original Shareholders
The transaction solidifies US control of Origis Energy, a top ranked clean energy developer with over 1 GW of operational and nearly 3 GW in contracted solar and energy storage projects.
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MIAMI, Jan. 6, 2021 /PRNewswire/ Origis Energy, a top ranked U.S. solar and energy storage developer, today announced the management buyout of its original nonoperational shareholders. Global Atlantic Financial Group ( Global Atlantic ), a leading annuity and life insurance company, provided financing for the transaction. As a result of the transaction, Global Atlantic, who has held an equity position in Origis Energy since 2018, increases its economic interest in the company. Details of the transaction were not disclosed.
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CHATTANOOGA, Tenn., Dec. 17, 2020 /PRNewswire/ Unum Group (NYSE: UNM) today announced that three of its insurance company subsidiaries have entered into an agreement to reinsure a substantial portion of Unum s Closed Individual Disability Insurance Block ( IDI ) business, backed by approximately $7.1 billion in reserves, to a subsidiary of Global Atlantic through a coinsurance arrangement. Global Atlantic s subsidiary will maintain over-collateralized trust accounts for the benefit of each Unum ceding company to secure its obligations under the relevant reinsurance agreement. Unum will continue to provide service and administration for the reinsured IDI business.
(PRNewsfoto/Unum Group)