Back News Cordillera Holdings, With Investment by Investcorp, Announces Acquisition of Sunset Life Insurance Company of America 2 Nov 2021 Cordillera Holdings LLP (“Cordillera Holdings”), a newly created insurance-focused investment platform today announced that on November 1st, it had through its subsidiary, Bona Holdings LLC, completed the acquisition of Sunset Life Insurance Company of America (“Sunset Life” or “the Carrier”) with veteran annuities industry executive Nathan (“Nate”) Gemmiti serving as Chief Executive Officer of the Carrier. The initial capital for the acquisition and for future growth of the platform is being provided by Investcorp, a leading global provider and manager of alternative investment products. Founded in 1937, Sunset Life was formerly a subsidiary of Kansas City Life Insurance Company, the seller. On December 31, 2020, Sunset Life reinsured 100% of its then existing insurance business to Kansas City Life, who will provide all ongoing administration for such business. Mr. Gemmiti joins from Knighthead Annuity and Life Insurance Company where he served as Co-Founder, Chief Operating Officer and General Counsel. Previously, he served as an Operating Partner at Apollo Global Management, where he worked on several financial services initiatives, including the initial launch and growth of Athene. Under Mr. Gemmiti’s new leadership and direction, the business will focus on being a long-term and stable provider of retirement-oriented fixed annuity products and delivering them through a platform that leverages innovative technology to provide a better experience for both customers and distribution partners. With insurance licenses in over 40 states, the Carrier will offer future policy holders across the United States access to a well-run and well-capitalized insurer, offering important long-term savings and retirement products. As part of the transaction, Cordillera also announced that the Carrier will outsource its investment management to Investcorp Insurance Solutions (“IIS”), Investcorp’s newly formed line of business that will focus on providing investment management services to meet the unique investment needs of insurers. “Through my near 20 years of experience in the life and annuity insurance market, I have witnessed the evolution of the industry, and today more than ever the opportunity exists to deliver differentiated savings and retirement income products to customers. We believe that a partnership with Investcorp brings a key competitive advantage via access to its long-dated experience and successful track record across a range of investment strategies. This partnership is critical to our ability to design and build products that protect and manage the lifecycle of our customers’ wealth, savings and retirement,” said Mr. Gemmiti. Rishi Kapoor, Co-CEO, Investcorp, added: “This marks an exciting milestone following the launch of our insurance solutions business last month. We look forward to leveraging our experience in investment management in partnership with Nate and team”. Financial terms of the transaction were not disclosed. 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