Life and annuity insurer Global Atlantic Financial Group has appointed Edward Root to lead its pension risk transfer business as Managing Director.
Root will report to Manu Sareen, President of Institutional Markets, Global Atlantic, and Chief Executive Officer, Global Atlantic Re.
Root has over 20 years’ experience advising large pension plan sponsors and has worked on more than 1,000 PRT transactions.
He most recently served as Managing Director at Willis Towers Watson and was the head of its consulting firm’s PRT group.
Commenting on his appointment, Root said, “I’m excited to join Global Atlantic as it seeks to grow its PRT business.”
“The company’s focus on tailored solutions coupled with its financial strength and transaction expertise, make it an appealing business partner for companies seeking options to free capital by lowering expenses or de-risk their exposure to future pension liabilities.”
“Global Atlantic has quickly grown its PRT reinsurance business, and by bringing Edward to our team, we are reaffirming our commitment to the PRT space,” said Sareen.
“We are excited to have him on board. With Ed’s addition and the recent promotions of Darryl Herrick and Jason Kao as co-heads of block and flow reinsurance, we continue to invest in and grow our leading block, flow and PRT reinsurance franchise.”
