Who bought Forethought insurance?
Global Atlantic
Forethought, a financial services company with life insurance and annuity operations throughout the U.S., is now a wholly owned subsidiary of Global Atlantic. The acquisition includes Forethought’s products and designs, distribution, marketing, intellectual capital and people, as well as all in-force business.
What is forethought annuity?
Forethought ForeCare is a 9-year, single premium deferred annuity designed to pay for long-term care expenses, tax-free. The long-term care annuity multiplies the policyholder’s initial investment allowing the annuitant to receive up to two or even three times the contract value to spend on long-term care expenses.
Is forethought and Global Atlantic the same?
Global Atlantic Financial Group is the marketing name for Global Atlantic Financial Group Limited and its subsidiaries, which include Forethought Life Insurance Company. Each subsidiary is responsible for its own financial and contractual obligations.
How Safe Is Global Atlantic Financial Group?
Strong and stable financially, Global Atlantic has high ratings, including an A (Excellent) from A.M. Best. The “A” rating assures customers that Global Atlantic is a capable insurance company capable of offering guaranteed, secure coverage.
When did Global Atlantic Buy forethought?
2013
In 2013, Global Atlantic acquired Forethought Life Insurance Company, the company that ended up with Hartford Financial Services Group Inc.’s formidable annuity origination business. Global Atlantic also acquired a U.S. arm of Aviva PLC in 2013, and turned that business into Accordia Life and Annuity Company.
Who owns Global Atlantic Financial Group?
KKR
Global Atlantic was founded at Goldman Sachs in 2004 and separated as an independent, privately held company in 2013. In February 2021, KKR acquired a majority ownership stake in Global Atlantic, which operates as a subsidiary and standalone business.
What is the rating for Forethought Life Insurance Company?
Forethought Life Insurance Company consistently receives among the industry’s most competitive scores with an average 0.09 rating in 2020.
Who owns Global Atlantic?
KKR closed on a $4.7 billion acquisition of control over Global Atlantic Feb. 1. KKR now owns 61.5% of Global Atlantic’s stock.
What is global Atlantic A.M. Best rating?
Global Atlantic Financial Group has an A rating from A.M. Best, a Comdex Score of 75, and maintains high financial ratings from other third-party insurance company rating agencies.
Why did KKR buy Global Atlantic?
Being a part of KKR strengthens our position as a leading U.S. annuity and life insurance company, enhances our ability to deliver compelling solutions for our clients and deepens our access to long-term strategic capital,” said Allan Levine, Chairman and Chief Executive Officer of Global Atlantic.
Is Global Atlantic a good company?
Global Atlantic earned 3 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.
What does KKR stand for?
Kohlberg Kravis Roberts
| Headquarters at 30 Hudson Yards | |
|---|---|
| Traded as | NYSE: KKR (Class A) Russell 1000 component |
| Industry | Financial services: private equity (1976–present) investment banking (2004–present) |
| Founded | 1976 (as Kohlberg Kravis Roberts & Co.) |
| Founders | Henry Kravis George R. Roberts Jerome Kohlberg Jr. |