Nassau Financial to Acquire Foresters’ U.S. Life Business
October 23, 2019 by Allison Bell
The company that acquired the Phoenix Companies Inc. in 2016 is pushing ahead with efforts to make itself a major player in the U.S. life and annuity markets.
Nassau Financial Group L.P. of Hartford, Connecticut, today announced that it has agreed to acquire Foresters Financial Holding Company Inc. of New York and Foresters Life Insurance and Annuity Company from The Independent Order of Foresters.
The price of the deal was not immediately available.
The New York State Department of Financial Services is one of the entities with a say over the deal.
The buyer, Nassau Financial, is the Hartford, Connecticut-based company popularly known as Nassau Re.
The company was founded in 2015 with about $750 million in capital commitments from Golden Gate Capital, a private investment firm. Golden Cate Capital may be best known for being the current owner of the Red Lobster restaurant chain.