US non-public fairness firm KKR has accomplished the acquisition of the remaining 37% stake in insurance coverage firm International Atlantic.
Introduced in November 2023, the all-cash $2.7bn deal takes KKR’s possession within the insurer to 100%.
International Atlantic caters to the retirement and life insurance coverage necessities of each people and establishments.
KKR initially acquired a majority stake in International Atlantic in 2021 and has since managed its belongings.
Regardless of the change in possession, International Atlantic will retain its present administration workforce and proceed to function beneath the identical model identify.
KKR co-CEOs Joseph Bae and Scott Nuttall stated: “Since day one, International Atlantic has been an important match for KKR, each from a enterprise and cultural standpoint. With this new possession construction in place, we sit up for even nearer collaboration with International Atlantic in order that we are able to realise extra of the synergies that we have now uncovered within the first three years of our strategic partnership,”
Entry essentially the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain e mail will arrive shortly
We’re assured concerning the
distinctive
high quality of our Firm Profiles. Nonetheless, we wish you to take advantage of
useful
choice for your enterprise, so we provide a free pattern you can obtain by
submitting the under type
By GlobalData
International Atlantic co-founder, chairman and CEO Allan Levine stated: “KKR and International Atlantic are a robust mixture. Our shared tradition and dedication to excellence continues to boost our skill to assume – and make investments – longer-term and ship compelling options for our shoppers and policyholders. We’re thrilled for what lies forward as a completely owned subsidiary of KKR.”
In September 2023, KKR reached an settlement to extend its stake in USI by investing $1bn.
Following the completion of the deal, KKR will turn into USI’s largest shareholder.
