Hartford, CT, Oct. 17, 2019 — Nassau Financial Group, L.P. (“Nassau”) today announced that it has entered into a definitive agreement with The Independent Order of Foresters (“Foresters”) for Nassau Life Insurance Company (“NNY”) to acquire Foresters Financial Holding Company, Inc. and Foresters Life Insurance and Annuity Company (“FLIAC”) from Foresters. NNY and FLIAC are New York-domiciled life insurance companies.
The transaction is expected to close in the first quarter of 2020 and is subject to customary closing conditions, including regulatory approval by the New York State Department of Financial Services.
Hartford, CT, Oct. 1, 2019 – Nassau Financial Group (“Nassau”) today announced its entry into the accumulation-focused fixed indexed annuity space with its inaugural product, Nassau℠ Growth Annuity. This product introduction marks Nassau’s latest milestone in an active year of growth across its insurance and annuity businesses. In addition, Nassau continues to take a leading role in the Hartford region’s insurance and insurtech industry through its incubator, Nassau Re/Imagine.
Hartford, CT, Sept. 9, 2019 – Nassau Re today announced that its subsidiary Nassau Alternative Investments LLC (“NAI”) has closed its inaugural collateralized fund obligation (the “CFO”), Nassau 2019 CFO LLC. The CFO securitization is collateralized by interests in a highly diversified and seasoned pool of over 100 private equity and private debt funds with approximately $375.7 million in net asset value.
“We are pleased with the success of NAI’s inaugural securitization, after launching Nassau Re’s newest asset management franchise earlier this year. Through this transaction, we are able to both derisk our general account balance sheet and accelerate the growth of third-party AUM,” said Phil Gass, Nassau Re’s Chairman and Chief Executive Officer.
Hartford, CT, Sept. 3, 2019 – Nassau Re today announced that David E. Czerniecki, CFA, has joined the company as Chief Investment Officer. As Chief Investment Officer, Mr. Czerniecki will be responsible for setting investment strategy and overseeing Nassau Re’s investment portfolio. He will report to Phil Gass, Chairman and Chief Executive Officer of Nassau Re.
Fitch Ratings has begun to rate Nassau Re, including our first overall corporate rating for Nassau Financial Group and Nassau Re (Cayman) – an important step in support of future growth plans.
Fitch assigned a BB+ Insurer Financial Strength (IFS) rating to Nassau Life Insurance Company, Nassau Life and Annuity Company and Nassau Re (Cayman). In addition, Fitch assigned a B+ Long-Term Issuer Default Rating (IDR) to Nassau Financial Group, The Nassau Companies and The Nassau Companies of New York. All ratings have a Stable outlook.