Aquarian Holdings forms insurance division to enhance growth and synergies

Aquarian Holdings has announced the enactment of Aquarian Insurance Holdings, aiming to “optimise maturation and synergies” wrong its reinsurance and retail security businesses.

Aquarian Holdings, which manages security and plus absorption businesses, said the caller part volition supply a streamlined structure.

Established successful 2017, the institution has expanded its plus absorption portfolio to astir $22bn.

Under laminitis Rudy Sahay's leadership, the institution has besides built capabilities crossed the beingness security worth chain.

The enactment of Aquarian Insurance Holdings is expected to alteration continued concern maturation and accrued efficiencies.

Aquarian Insurance Holdings volition comprise Somerset Reinsurance, Investors Heritage and Hudson Life.

Via Management Solutions volition connection shared services and exertion support.

Somerset Re, based successful Bermuda, focuses connected capital-efficient reinsurance solutions for beingness and annuity insurers.

It was acquired by Aquarian Holdings successful January 2023.

Investors Heritage, a US-based beingness and annuity insurer established successful 1960, became portion of Aquarian Holdings successful 2018.

Hudson Life, acquired and rebranded by Aquarian Holdings successful 2022, specialises successful providing security policies wrong New York State.

Via, a third-party administrator, utilises technological expertise primitively developed done Investors Heritage.

Sahay said: “We spot accidental wrong the security sector, and Aquarian Insurance Holdings is the adjacent improvement of our portfolio. We volition beryllium capable to leverage champion practices and shared services crossed the organisation, specifically the exertion expertise and enactment wrong our Investors Heritage business. All of which presumption america for continued maturation and expansion.”

John Frye, operating spouse astatine Aquarian Holdings and president of Investors Heritage, and Jeff Burt, CEO of Somerset Re, volition service arsenic Co-CEOs of Aquarian Insurance Holdings.

Frye has served successful elder enactment positions astatine Advisors Excel, Security Benefit and General Electric.

Burt, who antecedently served arsenic president and CEO of Somerset Re, volition proceed arsenic co-CEO alongside Somerset Re’s incoming CEO during the transition.

His acquisition includes serving arsenic president of Hannover Life Reassurance Company of America, wherever helium led much than 100 structured reinsurance transactions.

"Aquarian Holdings forms security part to heighten maturation and synergies " was primitively created and published by Life Insurance International, a GlobalData owned brand.

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