Kuvare and Aquarian Make Bermuda Deals

Aquarian says it will “provide a substantial amount of immediate and committed new capital” to help Somerset Re support a strong pipeline of opportunities. Somerset Re executive five new reinsurance treaties in the fourth quarter of 2022.

Aquarian will also serve as asset manager for Somerset Re.

2. Connector Tech

Advisor360°, a Weston, Massachusetts-based wealth management technology firm, acquired Agreement Express technology assets from Frontier Growth, a private equity firm. Advisor360° says it can use the technology assets to connect investment and insurance accounts at every major custodian and clearing firm with its own systems.

Pacific Life has agreed to distribute its life insurance policies through Modern Life, a New York-based life insurance brokerage that uses digital systems and call centers to help insurance agents and financial advisors with life insurance policy sales.

3. Underwriting Tech

Reinsurance Group of America, a Chesterfield, Missouri-based life and annuity reinsurer, has agreed to use artificial intelligence technology from Digital Owl, a New York-based startup, to create more focused abstracts of the medical records flowing through its applicant underwriting systems.

4. Assets That Zig When the World Zags

Nassau Financial Group has merged with Angel Island Capital Management and made AIC a subsidiary of its own asset management unit.

Nassau is a Hartford, Connecticut-based life insurer, reinsurer and asset manager with $18 billion in assets under management.

AIC, a specialty credit investment firm with $3.6 billion in assets, was founded in 2008 by Golden Gate Capital. It works with high-yield bonds, distressed debt, and other arrangements for companies with complicated financing needs.

5. Growth

Pan-American Life, a New Orleans-based life insurer, has acquired Mutual Trust Life Insurance Company through a merger. Mutual Trust will continue to operate from its existing offices in Oak Brook, Illinois, according to Pan-American.

Integrity Marketing, a Dallas-based financial services distributors that has used private equity support to buy many other companies, has acquired Gladstone Wealth Partners, a wealth manager and RIA founded in 2012. Gladstone oversees $13 billion of assets under management and advisement.

AXG Advisors, a 4-year-old Philadelphia-based insurance broker that serves wealthy clients, acquired the operations of Rose Glen, a Wynnewood, Pennsylvania, based life and annuity firm, to expand its operations.

George Papanier, an AXG co-founder, worked for Morey Goldberg, the owner of Rose Glen, before he left to help start AXG. Goldberg will become a senior advisor at AXG, according to AXG.

Pictured: Hamilton, Bermuda. (Photo: Andrew F. Kazmierski/Shutterstock)