Kuvare and Aquarian Make Bermuda Deals
Aquarian now owns a large stake in Somerset Re. Hannover Re and Weiss Family Interests also owns stakes in the company.
Aquarian says it will “provide a substantial amount of immediate and committed new capital” to help Somerset Re support a strong pipeline of opportunities. Somerset Re executive five new reinsurance treaties in the fourth quarter of 2022.
Aquarian will also serve as asset manager for Somerset Re.
2. Connector Tech
Advisor360°, a Weston, Massachusetts-based wealth management technology firm, acquired Agreement Express technology assets from Frontier Growth, a private equity firm. Advisor360° says it can use the technology assets to connect investment and insurance accounts at every major custodian and clearing firm with its own systems.
Pacific Life has agreed to distribute its life insurance policies through Modern Life, a New York-based life insurance brokerage that uses digital systems and call centers to help insurance agents and financial advisors with life insurance policy sales.
3. Assets That Zig When the World Zags
Nassau Financial Group has merged with Angel Island Capital and made AIC a subsidiary of its own asset management unit.
Nassau is a Hartford, Connecticut-based life insurer, reinsurer and asset manager with $18 billion in assets under management.
AIC, a specialty credit investment firm with $3.6 billion in assets, was founded in 2008 by Golden Gate Capital. It works with high-yield bonds, distressed debt, and other arrangements for companies with complicated financing needs.
4. Growth
AXG Advisors, a 4-year-old Philadelphia-based insurance broker that serves wealthy clients, acquired the operations of Rose Glen, a Wynnewood, Pennsylvania, based life and annuity firm, to expand its operations.
George Papanier, an AXG co-founder, worked for Morey Goldberg, the owner of Rose Glen, before he left to help start AXG. Goldberg will become a senior advisor at AXG, according to AXG.
Pictured: Hamilton, Bermuda. (Photo: Andrew F. Kazmierski/Shutterstock)
