M&A Deal Summary

Nassau Financial Group Acquires Delaware Life Insurance Company of New York

On November 18, 2022, Nassau Financial Group acquired insurance company Delaware Life Insurance Company of New York from Delaware Life Insurance Co.

Acquisition Highlights
  • This is Nassau Financial Group’s 4th transaction in the Insurance sector.
  • This is Nassau Financial Group’s 4th transaction in the United States.
  • This is Nassau Financial Group’s 2nd transaction in New York.

M&A Deal Summary

Date 2022-11-18
Target Delaware Life Insurance Company of New York
Sector Insurance
Buyer(s) Nassau Financial Group
Sellers(s) Delaware Life Insurance Co.
Deal Type Divestiture

Target

Delaware Life Insurance Company of New York

New York, New York, United States
Delaware Life Insurance Company of New York is a provider of fixed annuities, variable annuities, and life insurance products with 16,000 policies in force and approximately $1.8 billion in assets as of September 30, 2022.

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Buyer(S) 1

Buyer

Nassau Financial Group

Hartford, Connecticut, United States

Category Company
Founded 2015
Sector Insurance
DESCRIPTION

Nassau Financial Group is an insurance and reinsurance business focused on acquiring and operating onshore and offshore platforms with long tail liabilities in the life, annuity and long term care sectors. Nassau Financial Group was founded in 2015 and is based in Hartford, Connecticut.


DEAL STATS #
Overall 4 of 4
Sector: Insurance M&A 4 of 4
Type: Divestiture M&A Deals 3 of 3
State: New York M&A 2 of 2
Country: United States M&A 4 of 4
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-27 Saybrus

Hartford, Connecticut, United States

Saybrus is a life insurance and annuity distribution company that helps institutions and financial professionals address clients' needs with life insurance and annuity solutions for basic protection as well as retirement, estate, and business planning. Saybrus was founded in 2009 and is based in Hartford, Connecticut.

Sell -

Seller(S) 1

SELLER

Delaware Life Insurance Co.

Wellesley Hills,, Massachusetts, United States

Category Company
Sector Insurance
DESCRIPTION

Delaware Life Insurance Compnay, provider of annuity and life insurance products in the United States


DEAL STATS #
Overall 1 of 1
Sector: Insurance M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-17 Sun Life Insurance & Annuity Company of New York

New York, New York, United States

Sun Life Insurance and Annuity Company of New York engages in the sale of individual fixed and variable annuity contracts.

Buy -