Venerable Holdings Expands Insurance Footprint with Major Acquisition

Venerable Holdings Inc. has successfully finalized a strategic acquisition and reinsurance agreement with Corebridge Financial Inc., enhancing its position in the insurance industry. This milestone includes acquiring SunAmerica Asset Management LLC and a pivotal reinsurance transaction with The United States Life Insurance Company in New York. Originally announced in June 2025, these actions are set to redefine Venerable's role in the industry by expanding its risk management capabilities and regulatory compliance frameworks.

Strategic Expansion and Operational Growth

Through the acquisition, Venerable assumes responsibility for the Individual Retirement variable annuities previously managed by Corebridge's subsidiaries, illustrating an enhanced underwriting approach. The integration of SunAmerica Asset Management LLC, along with 53 new employees, marks a significant operational expansion, with new offices in Houston and an amplified presence at One World Trade Center in New York City. Tim Brown, President of Venerable Advisers, anticipates leveraging the team's expertise to advance Venerable’s advisory capabilities and industry standing.

Impact and Forward Momentum

With the completion of these transactions, Venerable Holdings forecasts an increase in its total assets under risk management from USD 67 billion to USD 118 billion. This expansion underscores the company's commitment to offering comprehensive risk transfer solutions across the insurance and retirement sectors. David Marcinek, Chairman and CEO of Venerable, emphasized the transformative impact of these agreements, facilitated by key industry advisors including Citi, Wells Fargo Securities, Milliman, and Sidley Austin. These developments further solidify Venerable's regulatory compliance and readiness in navigating the dynamic insurance landscape.