Talcott Financial, Goldman Sachs partner to launch Bermuda reinsurance sidecar West Grove Re with $1 billion raise
GS•About $1 billion capital raise closed
West Grove Re closed about a $1 billion capital raise, combining equity from Talcott, Goldman Sachs Asset & Wealth Management and clients, and a credit facility.
Goldman Sachs AWM to manage private assets
Goldman Sachs AWM will act as investment manager for private asset strategies; other third-party managers will run the remaining assets.
Quota share of Talcott-sourced U.S. annuities
The vehicle will take a quota share of certain Talcott-sourced U.S. annuities, aiming to expand capacity with a more capital-efficient structure.
West Grove Re formed with Goldman Sachs partnership
Talcott Financial formed Bermuda reinsurance sidecar West Grove Re in partnership with Goldman Sachs, targeting faster growth in insurance and reinsurance.
