The Convergence of Insurance and Alternative Asset Managers: A Houlihan Lokey Perspective
At year-end 2024, 137 private equity-owned U.S. insurers held $704.3 billion in invested assets—representing 7.8% of the U.S. insurance industry balance sheet and more than doubling in scale since 2018.
In its new white paper, Houlihan Lokey provides an in-depth look at:
The economics driving the life/annuity and alternatives flywheel.
Key deal trends across minority stakes, acquisitions, and reinsurance sidecars.
A taxonomy of affiliated transactions: IMA fee benchmarking and capital transactions.
The critical role of independent fairness opinions and valuation advisory for boards and conflict committees.
Contacts
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Rittik Chakrabarti Managing Director Co-Head of U.S. Portfolio Valuation and Fund Advisory Services
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Robert G. Rosenberg Managing Director Co-Head of Special Committee Advisory and Fairness and Solvency Opinions
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Oscar Aarts Managing Director
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Brett Tallman Director
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Daniel Etessami Director
