Harris' 26North Inks $5 Billion Insurance Deal, Growing Assets [BNN Bloomberg (Canada)]
Apollo Global Management, Inc. (New) (APO)
Last apollo global management, inc. (new) earnings: 5/1 07:00 am
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Source: BNN Bloomberg
The transaction calls for 26North affiliates to re-insure a block of Life Insurance Company of the Southwest's annuity products. The firm will also provide re-insurance for future fixed annuities, according to the statement. Re-insurance is one of the many ways that private credit firms have partnered with insurers to grow their asset bases. The world's biggest private credit managers — including Apollo Global Management, Blackstone Inc. and KKR & Co. — have formed multibillion-dollar tie-ups with insurers in their pursuit of accumulating even more fee generating assets. Harris launched 26North in 2022 to focus on investing in private equity, credit and insurance. This is not the firm's first foray into insurance partnerships — in the same year, the asset manager received an equity investment from American Equity Investment Life Holding Co. LSW parent National Life Group holds a minority stake in the 26North affiliate re-insuring the policies in the deal announced today, accord
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- 5/10/24 - Form 4
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