American investment firm Värde Partners and Agam Capital have decided to set up a life and retirement joint venture (JV) to better serve their customers.
The new entity will leverage Värde’s investment management expertise as well as Agam’s scalable insurance solutions platform to serve the $23tr life insurance industry.
Additionally, the new company will focus on buying, reinsuring and managing life and retirement businesses across the globe.
To deliver complete economic solutions to life insurers, the company will provide turnkey solution for financial modelling and enterprise risk management.
Värde Partners will infuse around $500m in complex life insurance, reinsurance assets, and annuity that will be managed by the JV.
Agam co-founders Avi Katz and Chak Raghunathan said: “The need for multi-dimensional solutions to the complex changes facing the life insurance industry has never been greater.
“Against this backdrop, we believe the combination of Värde Partner’s core strengths in complex transactions together with Agam’s differentiated pALM platform will create a world-class insurance solutions provider.
“In particular, the Agam platform is designed to price, analyse and manage complex insurance products with embedded capital market risks and offers creative structures and solutions on a global basis.”
New Jersey-based Agam Capital operates as an insurance solutions provider and focuses on developing technology to manage risks with integrated analytics.