Värde Partners and Agam Capital to form a joint venture.

Värde Partners, a $14bn global alternative investment firm, and Agam Capital, a New Jersey-based insurance solutions provider, agreed to form a joint venture to pursue the acquisition, reinsurance and management of life and retirement businesses globally. Financial terms were not disclosed. “Given the current landscape of historically low interest rates and fundamental regulatory and accounting changes, we believe the opportunity across the $23tn life insurance industry is huge. Life insurance companies are increasingly seeking risk mitigation solutions for legacy blocks of liabilities with multi-dimensional risks. This is particularly true for complex annuity products, such as those with high guarantees or exposure to certain market risks, which typically attract a higher capital charge. We are excited to expand Värde’s financial services footprint into insurance, and partner with Agam to provide alternative solutions to the industry.” Elena Lieskovska, Partner and Head of European Financial Services at Värde Partners.