The acquisition positions the company to address growing retirement needs through innovative solutions and a consumer-centric approach.
Knighthead Life will introduce a multi-year guaranteed annuity (MYGA), backed by the group’s $5.5 billion in annuity reserves and bolstered by a recent $550 million capital raise. The company’s offerings are supported by an A- rating from AM Best, reinforcing its commitment to reliability and financial strength.
Tom Wagner, co-Chairman of Knighthead Insurance Group and co-founder of Knighthead Capital Management, expressed enthusiasm about the acquisition. “Merit’s consumer-centric approach, focus on technology, and innovative retirement solutions made it an ideal fit for Knighthead Insurance,” he said. “The newly branded Knighthead Life is pivotal to fulfilling our long-term business objectives of bringing Knighthead’s insurance and reinsurance expertise to the United States.”
This strategic move underscores Knighthead’s ambition to become a significant player in the U.S. insurance and retirement market while building on its established expertise and resources.