Global Atlantic Financial Group Launches Life Company
May 1, 2014 by Jeff Jeffrey
DES MOINES, Iowa – Global Atlantic Financial Group Ltd. has launched a new Des Moines, Iowa-based life insurance company called Accordia Life.
The new company is based on the life insurance business of Aviva U.S. Life, which Global Atlantic Financial Group purchased from Athene Holding Ltd. after Athene bought Aviva in October (Best’s News Service, Oct. 4, 2014).
“We are building an innovative new life insurance company, leveraging the talents of our seasoned industry professionals and our expertise in indexed universal life,” Michael Miller, president of Accordia Life, said in a statement. “We look forward to delivering outstanding results to our distribution partners and clients.”
Accordia Life will offer consumers a suite of products, including indexed universal life, universal life and term insurance. These products are designed to help meet the protection, wealth transfer and small business needs of customers throughout the United States, the company said in a statement.
Accordia Life has 200 employees in Des Moines.
Steve Hinrichs, senior vice president of sales, will lead the company’s distribution efforts through a national network of life insurance marketing organizations. He brings more than 30 years of industry experience to the role.
Accordia Life and Annuity Co. currently has a Best’s Financial Strength Rating of A- (Excellent).
(By Jeff Jeffrey, Washington Bureau manager: jeff.jeffrey@ambest.com)