Global Atlantic Financial Group Market Research Report

Company Overview

• Name: Global Atlantic Financial Group

• Mission: Helping individuals and institutions achieve their financial goals and secure their future.

• Founded: No information is available

• Founders: No information is available

• Key People:

• Tim Bridgers, Head of Preneed Sales (as of October 8, 2024)

• Headquarters: No information is available

• Number of Employees: No information is available

• Revenue: No information is available

• Known For: Providing annuities, life insurance products, and reinsurance solutions. Known for its financial strength and innovative solutions.

Products

Annuities

• Description: Financial products designed to provide a steady income stream during retirement.

• Key Features:

• Products include fixed, indexed, and variable annuities.

• Issued by Forethought Life Insurance Company.

Life Insurance

• Description: Policies that offer financial protection and benefits upon the policyholder's death.

• Key Features:

• Issued by Accordia Life and Annuity Company.

• Customizable coverage to fit individual needs.

Reinsurance

• Description: Provides risk management solutions for other insurance companies.

• Key Features:

• Transactions entered by Global Atlantic Re Limited and affiliates.

• Strategic partnerships and agreements with major firms such as Manulife and MetLife.

Recent Developments

New Products and Initiatives

• Registered Index-Linked Annuity Launched

• Announced on January 13, 2025.

• Aimed at providing innovative retirement solutions to clients.

• Retirement Income Style Quiz

• Offers a tool for individuals to assess retirement funding preferences.

Partnerships and Agreements

• Partnerships:

• Collaborated with BEDC for the Wave of Opportunity Pitch Competition - fostering innovation and entrepreneurship.

• Formed a groundbreaking partnership with Service Corporation International for preneed insurance on July 8, 2024.

• Reinsurance Agreements:

• Closed a $10 billion block reinsurance agreement with Manulife across both US and Japanese businesses on February 22, 2024.

• A ¥574 billion Japanese reinsurance agreement with Manulife Japan, announced on December 11, 2023.

• A $19 billion reinsurance agreement with MetLife on November 15, 2023.

Leadership and Organizational Changes

• New Leadership:

• Announced new leadership for the Individual Markets Business on September 17, 2024.

• Ownership Changes:

• Completed by KKR, acquiring the remaining 37% of Global Atlantic for $2.7 billion in an all-cash transaction on January 2, 2024.

Community and Industry Impact

• Awards and Recognition:

• Global Atlantic subsidiaries have been named to Ward's 50 top life and health insurers for fourteen consecutive years as of July 12, 2023.

• Recognized in Barron’s 100 Best Annuities Guide in four categories on August 14, 2024.

• Community Engagement:

• Global Atlantic Re Foundation awarded a $75,000 grant to support biodiversity research in Bermuda on November 5, 2024.

• Facility Expansion:

• Expanded the Hartford office to support continued growth as of February 21, 2024.

This intensely detailed report focuses on publicly accessible company data, providing a comprehensive overview of Global Atlantic Financial Group’s strategic moves, product offerings, and market activities.