Ivy is sponsored by Global Atlantic and designed to co-invest approximately USD1 billion with Global Atlantic and its subsidiaries in qualifying reinsurance transactions. Global Atlantic and Ivy will co-invest in new qualifying reinsurance opportunities sourced by Global Atlantic’s institutional reinsurance business. These transactions include both reinsurance of life & annuity blocks and reinsurance of pension risk transfer (PRT) transactions.

Manu Sareen, Head of Global Atlantic’s Institutional business and Chief Executive Officer of Global Atlantic Re Limited, said: “The Ivy co-investment vehicle provides Global Atlantic with access to up to approximately $1 billion of additional capital for new transactions. This co-investment vehicle provides Global Atlantic with significant flexibility to better serve our reinsurance clients and gives our co-investors an opportunity to earn compelling risk-adjusted returns by deploying capital in this attractive market. Since Global Atlantic’s founding, we have reinsured approximately $30 billion of reserves spanning life & retirement blocks and PRT reinsurance. We look forward to continuing to partner with insurers by providing customized solutions to meet the unique financial, risk and capital objectives of each of our clients.”

Brad Adderley, lead Appleby partner on the deal said, “Congratulations to long-standing client, Global Atlantic and the Ivy team on their successful and exciting launch.”

Share
Twitter LinkedIn Email Save as PDF
More Deals
20 Jan 2021 | Deals

Appleby Bermuda advised Stable Group in novel structure

Appleby acted as Bermuda counsel for the Stable Group in the structuring, establishing and licensing...

17 Nov 2020 | Deals

Appleby acted as Bermuda counsel for Ascendant Group Limited

Appleby acted as Bermuda counsel for Ascendant Group Limited ("Ascendant") in the acquisition of Asc...

16 Nov 2020 | Deals

Appleby acted as Bermuda counsel for Chaucer

Appleby acted as Bermuda counsel for Chaucer, the international specialty (re)insurance group, in th...

Contributors: John Small
3 Nov 2020 | Deals

Appleby Bermuda advised Argo Group in the sale of Ariel Re

Our Bermuda team advised Argo Group International Holdings, Ltd., an underwriter of specialty insura...

3 Nov 2020 | Deals

Appleby Bermuda advised Integral ILS Ltd. in connection with a significant cornerstone investment

Appleby advised Integral ILS Ltd., an independent alternative fund manager focused on insurance-link...

1 Oct 2020 | Deals

Appleby advised Bittrex Global on acquiring their Digital Asset Business License to operate their cryptocurrency exchange from Bermuda

Appleby acted as Bittrex Global GmbH’s Bermuda counsel, on their application for a Class F Digital...

24 Sep 2020 | Deals

Appleby acted as Bermuda counsel for the Hashdex Nasdaq Crypto Index ETF

The world's first exchange-traded fund designed to track digital assets investments has been approve...

28 Jul 2020 | Deals

Appleby Bermuda advised PGGM in relation to an investment into Swiss Re’s sidecar vehicle, Viaduct Re Ltd.

Appleby acted as Bermuda counsel to PGGM Vermogensbeheer B.V., a cooperative Dutch pension fund serv...

Contributors: Josephine Noddings
11 Jun 2020 | Deals

Appleby Bermuda advised Normandy Limited in respect of its merger with Caribbean Investment Holdings Limited

Appleby Bermuda advised Normandy Limited in respect of its merger with Caribbean Investment Holdings...

Contributors: Jamie Rego