Aquarian completed the acquisition of majority stake in Somerset Re from Atlas Merchant Capital.

Aquarian Holdings, a diversified holding company, completed the acquisition of majority stake in Somerset Reinsurance, a provider of reinsurance solutions for asset-intensive life insurance and annuity business, from Atlas Merchant Capital, a private equity firm. Financial terms were not disclosed. “We’re looking forward to building on the strong growth that Somerset Re experienced in 2022 with Aquarian as a partner. Having executed five new reinsurance treaties in the fourth quarter of 2022, we have tremendous momentum leading us into 2023. The Aquarian platform gives us a long-term strategic partner with exceptional asset management capabilities that perfectly complements our solutions-based approach to reinsurance,” Jeff Burt, Somerset Re Chief Executive Officer.