Kuvare Announces Major Reinsurance Transaction

Fourth transaction in 18 months helps life and annuity business reach $3.5 billion in assets

Chicago, December 15, 2017 – Kuvare Holdings LP (“Kuvare” or “The Company”), a growth-oriented insurance platform, is pleased to announce the signing of a commercial agreement to assume approximately $850 million of fixed annuity reserves in a reinsurance transaction through its Bermuda subsidiary, Kuvare Life Re Ltd. (“KLR”). The reinsurance agreement is in partnership with a leading international and highly-rated insurance company, and provides financing support for a multi-billion dollar corporate transaction. 

“We’re incredibly proud of our track record of rapidly establishing a premier life and annuity insurance platform that delivers valuable solutions to consumers seeking growth and protection of their wealth,” said Kuvare founder & CEO Dhiren Jhaveri. “This transaction is a prime example of our successful strategy of driving growth in our reinsurance business. Kuvare will continue to distinguish itself as a trusted and reliable reinsurance solution provider for insurance companies seeking a partner with extensive expertise in this space.”

Kuvare is a leading insurance and reinsurance platform within the U.S. life and annuity marketplace. The Company has executed multiple reinsurance transactions through KLR in recent months, while also acquiring Guaranty Income Life Insurance Company in Baton Rouge, Louisiana in 2016, and signing a definitive agreement in September, 2017 to purchase United Life Insurance Company in Cedar Rapids, Iowa.

The Kuvare organization, headquartered in Chicago, focuses on delivering value-oriented life and annuity solutions to the middle market. Founded in 2015, Kuvare is committed to a sustainable growth strategy, backed by a consortium of long-term capital firms collectively managing more than $20 billion.  Including the KLR reinsurance transaction and the acquisition of United Life, Kuvare has pro forma consolidated assets of over $3.5 billion.

Media Contact:
Alex Jeffrey (Fund Lab)
[email protected]
847.921.4099

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Annuity and life insurance contracts are issued by United Life Insurance Company (69973), Cedar Rapids, IA and Guaranty Income Life Insurance Company (64238), Baton Rouge, LA. Lincoln Benefit Life Company (65595), Lincoln, NE does not currently issue new policies.  Payment obligations and guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company. Annuity and life insurance products may not be available in all states. These companies are not undertaking to provide investment advice for any individual or in any individual situation, and therefore nothing in this should be read as investment advice. This material should not be interpreted as a recommendation by United Life Insurance Company, Guaranty Income Life Insurance Company, or Lincoln Benefit Life Company. Please reach out to your financial professional if you have any questions about insurance products and their features.

The term “financial professional” is not intended to imply engagement in an advisory business with compensation unrelated to sales. Financial professionals will be paid a commission on the sale of an annuity.

INVESTMENT AND INSURANCE PRODUCTS ARE: • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, THE BANK OR ANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED

Reinsurance contracts are entered into with Kuvare Life Re Ltd., Hamilton, Bermuda. Not all reinsurance products or structures offered are available in all jurisdictions. Reinsurers may not be licensed in all states. All transactions are subject to meeting a reinsurer’s underwriting requirements. Reinsurance products are not protected or guaranteed by state insurance guaranty associations or insolvency funds. 

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