Aviva USA Life Insurance Unit to be Dealt to Global Atlantic

New York financier Leon Black’s private equity fund struck a deal to sell West De Moines-based Aviva USA to Global Atlantic Financial Group for an undisclosed amount.

The announcement comes just hours after Global Atlantic completed its separation from the Goldman Sachs Group – another Wall Street firm with a reputation for aggressive wheeling and dealing. Apollo was unable to provide an exact figure on the number of jobs going to Global Atlantic, and the number that might be eliminated, but the deal splits Aviva USA in two.

“This sale is consistent with Athene’s focus on becoming the leader in the fixed annuity segment of the retirement savings market,” Jim Belardi, chief executive officer of Athene, said in a statement. 

De Moines Register

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