Private equity-backed reinsurer Nassau Re has secured an additional $200 million of committed equity from its existing sponsor, Golden Gate Capital, in order to support growth plans currently in place for the company’s fixed annuity and life insurance businesses.
Following a rebranding of its core insurance subsidiaries into a single Nassau brand, the company believes it is better positioned to expand its suite of insurance products and execute on increased sales.
“The return to growth, beginning with the rebranding of our core insurance companies is an exciting new chapter for Nassau Re and Phoenix,” said Phillip J. Gass, Chief Executive Officer of Nassau Re.
“Over this past year, we have successfully completed the transformation and integration of our insurance companies while laying the foundation for stable, long-term growth.”
“Looking ahead, we will continue providing our suite of competitive products while working closely with our distribution partners to develop new and innovative insurance products to meet our clients’ needs.”
“The additional growth capital we have successfully raised will ensure seamless execution of our exciting growth initiatives for 2019 and beyond,” he added
This re-brand is the latest step in integrating and unifying Nassau Re’s businesses, the company says.
