Global Atlantic to acquire Equitable Financial Life Insurance from Equitable for £198m.

Global Atlantic, a company in the US life insurance and annuity industry, agreed to acquire Equitable Financial Life Insurance, an American financial services and insurance company, from Equitable, an American financial services company, for £198m. “Equitable’s financial, risk and counterparty objectives aligned well with our ability to manage both spread and fee-based liabilities for an attractive, comprehensive solution. We are excited to put our execution experience, strong balance sheet and risk management capabilities to work with another premier blue-chip provider of retirement products, extending our track record of providing best in class reinsurance solutions,” Manu Sareen, Global Atlantic Co-President and Head of Institutional Markets.