Agam Partners With 26North Reinsurance

May 8, 2024 | 0 Comments

Agam Capital collaborated with 26North Reinsurance Holdings to advise and launch AeCe ISA, Ltd., a Bermuda-based life and annuity reinsurer.

A spokesperson said, “Agam Capital [Agam], an analytics driven platform strategically partnering with insurance companies to explore opportunities to enhance their financial flexibility, is advising and partnering with 26North Reinsurance Holdings [26N Re], a leading reinsurance partner to the life and annuity industry founded by Josh Harris, in the formation and launch of AeCe ISA, Ltd. [AeCe], a Bermuda-domiciled Class E life and annuity reinsurer. AeCe will reinsure single premium deferred annuities written by National Life Group’s Life Insurance Company of the Southwest. National Life Group, through one of its companies, is a minority owner in AeCe.

“This strategic engagement leveraged Agam’s unique pALM analytical platform and differentiated Bermuda capabilities to support 26North in the development and establishment of a new entrant into the fast-growing market for life and retirement reinsurance solutions in Bermuda. As part of the launch, AeCe will leverage Agam’s Bermuda ISAC structure which offers a comprehensive suite of operational, management and governance services to Bermuda based reinsurers.

“Separately, Agam and AeCe have entered into a long-term Management Services Agreement [MSA] whereby Agam will continue to leverage its industry-leading asset and liability management and enterprise risk management expertise to support AeCe and its future growth.”

Agam’s Co-Founders, Chak Raghunathan and Avi Katz, said, “We are thrilled to be supporting the talented National Life Group and 26North teams as they launch, develop and grow their new reinsurance platform.”

“This transaction illustrates how 26N Re’s strategic partnership with Agam continues to yield positive results as we scale our reinsurance business and diversify our platform,” said Josh Harris, Founder of 26North. “Agam’s innovative, analytics-driven platform aligns with our vision for building a next-generation firm. We are pleased to deepen our partnership with Agam through the launch of AeCe, and together deliver attractive solutions to our insurance partners and ultimately, policyholders.”

“We expect this strategic arrangement to allow us to continue to grow with purpose,” said Mehran Assadi, Chairman, CEO and President of National Life Group. “Our focus on serving Middle America, the most underserved segment of the market, will be enhanced by the added capacity AeCe provides.”

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