Obra Capital completes acquisition of Unified Life Insurance coverage Firm

Asset administration agency Obra Capital has introduced that it has accomplished the acquisition of Unified Life Insurance coverage Firm and appointed a brand new head of longevity.

Unified, based in 1986, is a life and medical health insurance provider with about 100,000 energetic policyholders and 49 related licenses. Through the previous 30 years, Unified has acquired greater than 50 blocks of enterprise from 27 corporations, constructing its experience in reinsurance M&A, Obra Capital mentioned.

Obra is among the largest buyers in life settlement longevity belongings, that are engaging to buyers looking for uncorrelated outcomes, predictable money flows and asymmetrical danger profiles. The acquisition of Unified will present Obra with instant entry to life insurance coverage markets and bolster its longevity footprint.

Obra, in the meantime, boasts deep business relationships that may enable it to supply blocks of complementary liabilities for Unified. The deal will even create complementary funding alternatives, together with in reinsurance and first issuance, together with the flexibility to develop the platform additional by means of extra mergers and acquisitions.

“We’re happy to welcome the Unified workforce and the enterprise and the platform they may proceed to develop with Obra,” mentioned Blair Wallace, president and CEO of Obra. “Unified is a pure match inside our evolving and differentiated longevity technique that’s designed to steadiness longevity and mortality danger to offer buyers with anticipated steady and resilient money flows, decrease total portfolio volatility, and larger focused absolute returns. We consider this can be a distinctive providing that extends past conventional life settlement longevity funding approaches.”

New appointment

Obra has additionally introduced the appointment of Anthony J. Annino as senior managing director and head of longevity.

In his new function, Annino shall be answerable for overseeing Obra’s longevity portfolio administration and technique. He’ll report back to Wallace. Annino succeeds William Ketterer, who has left the function to pursue one other alternative.

Previous to becoming a member of Obra, Annino served as CEO of RiverRock Funds. In that function, he led a workforce overseeing a number of longevity-dedicated funds. Obra has additionally served as president and chief funding officer at Perspecta Belief, a $12.5 billion multi-family asset supervisor that was offered in 2019.

“We’re excited for Tony to affix the agency and lead our longevity enterprise as we proceed to evolve our technique and portfolio to incorporate life insurance coverage along with life settlements,” Wallace mentioned. “Constructing a balanced portfolio between longevity and mortality danger requires strategic foresight, regulatory data, and robust business relationships, all of which Tony has efficiently demonstrated all through his notable profession. We’re grateful to Will for his contributions to Obra and need him continued success in his subsequent endeavor.”

“Obra’s mixture of Unified Life Insurance coverage, a newly acquired life insurance coverage platform, with one of many largest vertically built-in longevity-dedicated groups within the business, makes this an thrilling time to be becoming a member of the enterprise,” Anino mentioned. “I’m wanting to capitalize on Obra’s platform and to introduce buyers to its differentiated longevity technique.”

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