Aquarian launches Aquarian Insurance Holdings amid significant insurance & reinsurance growth

Aquarian Holdings, a diversified global company with a portfolio in insurance and asset management, has announced the creation of Aquarian Insurance Holdings, bringing together its reinsurance and retail insurance businesses.

Founded in 2017, Aquarian has grown to manage approximately $22 billion in assets, establishing itself as a significant presence in the investment industry.

The goal of the launch of Aquarian Insurance Holdings is to enhance growth and improve operational efficiencies.

The company has built capabilities in key areas of the life insurance value chain, under the leadership of its founder, Rudy Sahay. The formation of Aquarian Insurance Holdings will allow for better integration of these capabilities across the organisation and facilitate further expansion.

John Frye and Jeff Burt have been appointed as co-CEOs of Aquarian Insurance Holdings. Frye, who also serves as an Operating Partner at Aquarian Holdings and President of Investors Heritage, brings a background in strategic growth and management of large-scale insurance and financial businesses.

He has held senior roles at Advisors Excel, Security Benefit, and General Electric, where he was responsible for overseeing multi-billion-dollar operations.

Burt, previously the Chairman and CEO of Somerset Re, has extensive experience in the insurance and reinsurance sectors.

He has been involved in more than 100 reinsurance transactions and has held leadership positions at Hannover Life Reassurance Company of America. Burt will continue to serve as co-CEO of Somerset Re alongside the incoming CEO during the transition period.

Aquarian Insurance Holdings will include Somerset Re, Investors Heritage, and Hudson Life. Via Management Solutions will provide shared services and technological support across these businesses.

Somerset Re is a reinsurer based in Bermuda, focused on providing capital-efficient reinsurance solutions to life and annuity insurers, acquired by Aquarian Holdings in 2023.

Investors Heritage, a life and annuity insurer established in 1960 and acquired by Aquarian in 2018, has experienced rapid growth in recent years, earning recognition from S&P Global as one of the fastest-growing US insurers.

Hudson Life, which was acquired and rebranded by Aquarian in 2022, offers life and annuity insurance policies in New York State. Via Management Solutions acts as a third-party administrator, providing support services for Aquarian’s insurance businesses and third-party carriers.

The formation of Aquarian Insurance Holdings is expected to streamline the company’s operations, potentially creating new opportunities for growth while maintaining focus on operational efficiency and integration.

“We see opportunity within the insurance sector, and Aquarian Insurance Holdings is the next evolution of our portfolio,” added Sahay.

“We’ll be able to leverage best practices and shared services across the organisation, specifically the technology expertise and leadership within our Investor’s Heritage business. All of which position us for continued growth and expansion.”

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