Gary Cohn, former president of Goldman Sachs Group, has been appointed to the board of Zinnia, an insurance technology company primarily owned by Eldridge Industries.
Zinnia, led by Michele Trogni, secured $300 million in financing from Vista Credit Partners in October, bringing its total valuation, including debt, to approximately $1.75 billion, according to a source familiar with the transaction.
Since his departure from Goldman Sachs in 2016, Cohn has held several high-profile roles, including serving as Director of the U.S. National Economic Council during President Donald Trump’s administration. He currently holds the position of Vice Chairman at International Business Machines (IBM) and serves on the boards of multiple privately held companies, including therapeutic-device developer Abryx and secure phone manufacturer Sotera Digital Security.
Zinnia’s Role in Insurance Technology
Zinnia specializes in life and annuity (L&A) insurance solutions. Formerly operating under the name SE2, the company underwent a rebranding in 2022 to better align with its mission of streamlining insurance policy administration through innovative technology.
The company offers end-to-end platforms designed to support the entire lifecycle of insurance policies, aiming to simplify operations for carriers. Central to Zinnia’s services is its system of record, which leverages smart contracts and digital ledger technology to provide real-time updates and a single, trusted source of information within the insurance ecosystem. This advanced infrastructure enables carriers to efficiently design, launch, and distribute new insurance products while enhancing policy servicing.
Strategic Growth and Acquisitions
Zinnia has strategically expanded its capabilities through acquisitions, reinforcing its position in the insurtech sector. In 2022, the company acquired Breathe Life, a SaaS-based insurance platform, to bolster its digital distribution offerings. In 2023, Zinnia further extended its reach with the acquisition of Policygenius, a leading digital insurance marketplace, establishing a foundation for a fully integrated insurance platform.
Additionally, Zinnia gained investment from KKR & Co. following its acquisition of Policygenius. In the same year, the company acquired North American life and annuity insurance assets from Ebix Inc., further strengthening its portfolio.
As Zinnia continues to innovate and scale, the addition of Gary Cohn to its board is expected to bring valuable strategic insights, supporting the company’s mission to modernize and optimize the life and annuity insurance industry.
