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By 
July 20, 2023 at 10:57 AM
Bain Capital says it now has $1.15 billion in cash it can use to fund insurance deals.
The Boston-based investment firm’s Bain Capital Insurance Fund plans to invest some of the money in insurance companies’ efforts to restructure themselves, carve some operations out from others and turn troubled operations around.
The fund will also invest in the start of new insurance platforms and insurers’ moves to address product gluts, product shortages and other trends.
Bain originally hoped to raise $750 million for the fund. Outside institutional investors, high-net-worth individuals and high-net-worth families ended up contributing $1 billion, and Bain’s own employees contributed more than $100 million.
What It Means
Some of your clients are looking for insurers willing to provide guarantees through insurance policies and annuity contracts. Other clients may think this is a great time to invest in the insurers providing the guarantees.
