Legacy acquirer Enstar is set to sell its subsidiary Pavonia Life to Aquarian Holdings for an undisclosed fee.
Pavonia Life is a New York-domiciled insurance company licensed to underwrite business in New York and Delaware.
The transaction is subject to customary closing conditions, including regulatory approval by the New York State Department of Financial Services.
“Adding Pavonia Life to our platform furthers our mission to deliver a superior insurance offering that creates long-term value for the policyholders and the companies that support them,” said Rudy Sahay, Managing Partner at Aquarian Holdings.
“Aquarian’s expertise in managing insurance liabilities to support sustainable growth and our operating experience with insurers will help us strengthen the business and produce thoughtful, innovative products.”
PLICNY is the second acquisition for Aquarian’s insurance portfolio, having acquired Investors Heritage Life Insurance Company in 2017.