M&A Deal Summary

Aspida Financial Acquires Pavonia Life Insurance Company of Michigan

On July 9, 2019, Aspida Financial acquired insurance company Pavonia Life Insurance Company of Michigan from Global Growth Holdings for 75M USD

Acquisition Highlights
  • This is Aspida Financial’s 1st transaction in the Insurance sector.
  • This is Aspida Financial’s largest (disclosed) transaction.
  • This is Aspida Financial’s 1st transaction in the United States.
  • This is Aspida Financial’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2019-07-09
Target Pavonia Life Insurance Company of Michigan
Sector Insurance
Buyer(s) Aspida Financial
Sellers(s) Global Growth Holdings
Deal Type Divestiture
Deal Value 75M USD

Target

Pavonia Life Insurance Company of Michigan

North Carolina, United States
Pavonia has historically offered life insurance, annuities and reinsurance products and services. The Company is currently licensed in 49 states and the platform has operated in multi-channel distribution networks with relationships covering more than 4,700 agents and subgroups.

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Buyer(S) 1

Buyer

Aspida Financial

New York, New York, United States

website

Category Company
Sector Financial Services
DESCRIPTION

Aspida Financial plans to issue insurance and reinsurance products for individuals and institutions seeking to fund their long-term financial needs. Aspida seeks to be a trusted partner focused on its customers’ financial security and success. Aspida’s solutions will include annuity and life insurance products that, in today’s volatile world, help bring stability and more predictability to a financial strategy.

DEAL STATS #
Overall 1 of 3
Sector (Insurance) 1 of 3
Type (Divestiture) 1 of 2
State (North Carolina) 1 of 2
Country (United States) 1 of 2
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-30 F&G Reinsurance

Hamilton, Bermuda

F&G Re Ltd is a provider of reinsurance solutions to life and annuity insurance companies on both active and run-off blocks of business. F&G Re offers services and solutions that dramatically reduce the resource requirements and product launch risks of its partnering carriers.

Buy -

Seller(S) 1

SELLER

Global Growth Holdings

New York, New York, United States

website

Category Company
Founded 1991
Sector Media
DESCRIPTION

Global Growth Holdings is a diversified information and services group that provides a broad range of products and services including certification, training, market research, advertising, information services, and cash flow management. Global Growth Holdings was founded in 1991 and is based in New York City.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-06 Damovo Deutschland KG.

Düsseldorf, Germany

Damovo Deutschland GmbH & Co. KG. is a provider of ICT managed services and solutions to large enterprises. Damovo Deutschland GmbH & Co. KG. is based in Düsseldorf, Germany.

Buy €140M
Mergr

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