Knighthead Insurance Group, a global provider of financial protection solutions, has announced its acquisition of Merit Life Insurance Co., marking a significant step in the company’s strategic growth.
“Knighthead Insurance’s capital support and successful track record will serve as an extremely strong basis for the launch of a market leading insurer.”
As part of its expansion into the US market, Knighthead Insurance has introduced Knighthead Life, a new arm aimed at addressing the nation’s growing retirement needs and increasing demand for secure insurance products.
Knighthead Life has unveiled a multi-year guaranteed annuity (MYGA) product designed to safeguard retirement savings while providing guaranteed returns. The company’s financial strength, bolstered by its recent capital raise and recognized with an A- rating from AM Best in November, underscores its commitment to delivering reliable and secure solutions.
Tom Wagner, co-chairman of Knighthead Insurance Group and co-founder of Knighthead Capital Management, expressed enthusiasm about the acquisition and the company’s future endeavors.
Founded in 2014 with the launch of Knighthead Annuity & Life Assurance Company, Knighthead Insurance Group has steadily built its presence in the financial services sector. The acquisition of Merit Life follows the group’s recent successful capital raise of $550 million, positioning it to further enhance its offerings and expand its reach.
