Wednesday, May 17, 2023
HomeLife InsuranceAntarctic Capital to Purchase Annuity Issuer for $100M

Antarctic Capital to Purchase Annuity Issuer for $100M

What You Have to Know

  • Antarctic Capital has $100 million in property.
  • It shaped a Barbados-based reinsurer in 2016.
  • An affiliate manages satellites.

One other asset supervisor desires in on the U.S. annuity sport.

Antarctic Capital has agreed to accumulate Midwest Holding for $100 million in money, and it says it plans to maintain the corporate’s administration, staff, workplaces and operations in place.

Chandra Patel, Antarctic Capital’s managing accomplice, stated the agency intends to “speed up Midwest’s ‘capital gentle technique’ to drive future development.”

What It Means

Buyers within the public inventory market have been squinting at life insurers suspiciously because the banks started having their issues, however traders within the non-public fairness sector appear friendlier.

Continued asset supervisor curiosity in annuities may assist enhance the provision of annuities and maintain the value down.

The Gamers

Antarctic Capital was based in 2010 and has workplaces in New York.

It has $1.2 billion in property below administration

One in every of its finest recognized associates is EarthDaily Analytics Corp., an organization that launches and manages satellites.

The agency began Weddell Re, a reinsurer based mostly in Barbados, in 2016.

Patel, the managing accomplice, has a bachelor’s diploma from the College of Kansas, a grasp’s diploma from the London College of Economics and a legislation diploma from Boston School.

Midwest Holding is Lincoln, Nebraska-based life insurer with inventory that has been buying and selling on Nasdaq.



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