Global Atlantic Annuity Holders Are Keeping Their Contracts: KKR
November 8, 2022 by Allison Bell
A top KKR & Co. executive said the company is happy with the performance of its Global Atlantic life insurance and annuity unit.
Robert Lewin, the New York-based private equity firm’s chief financial officer, told securities analysts Tuesday that he sees no signs of credit problems affecting the bonds in Global Atlantic’s investment portfolio, and no signs that rising interest rates are causing annuity holders to give up their contracts.
Wink’s Note: Allison Bell is killing me with this quote:
“In the United States, annuities and life insurance policies are like burritos filled with bonds, mortgages, derivatives, and a smattering of other assets.”
Seriously though…disintermediation is real.
Who is experiencing clients wanting to cash out their annuities, in order to take advantage of today’s higher rates? – sjm