Aquarian Announces the Formation of Aquarian Insurance Holdings

New Operating Structure Reflects Significant Growth in Insurance & Reinsurance Businesses

NEW YORK--(BUSINESS WIRE)--Aquarian Holdings, a diversified global holding company with a strategic portfolio of insurance and asset management solutions, today announced the formation of Aquarian Insurance Holdings, which will provide a shared structure for the company’s reinsurance and retail insurance businesses that optimizes growth and synergies amongst the organization.

Since its founding in 2017, Aquarian has grown to approximately $22 billion in assets under management (AUM), establishing itself as a significant player in the investment industry. Under the leadership of founder Rudy Sahay, Aquarian has built best-in-class capabilities in core areas across the life insurance value chain. The formation of Aquarian Insurance Holdings provides the opportunity for continued business growth at a greater scale with increased efficiencies across the operating structure. Additionally, the new structure enables insurance expertise to be seamlessly integrated across the organization, including at the asset manager level.

John Frye, who serves as Operating Partner at Aquarian Holdings and President of Investors Heritage, and Jeff Burt, who serves as Chief Executive Officer of Somerset Reinsurance, will be Co-Chief Executive Officers of Aquarian Insurance Holdings.

With decades of experience driving strategic growth and financial excellence, John Frye has held senior leadership roles at Advisors Excel, Security Benefit, and General Electric, where he managed multi-billion-dollar insurance and financial businesses. Mr. Frye brings a proven track record of innovation, operational expertise, and leadership that will propel Aquarian into its next phase of success.

A visionary leader in the insurance and reinsurance industries, Jeff Burt has an impressive track record of innovation and growth, most recently as Chairman and CEO of Somerset Re. Previously, he served as President of Hannover Life Reassurance Company of America, where he spearheaded over 100 structured reinsurance transactions and founded two successful affiliates. Mr. Burt brings unmatched expertise and strategic acumen to guide Aquarian into an exciting future. To ensure stability and continuity, Mr. Burt will continue to serve as Co-CEO alongside Somerset Re’s incoming CEO during the transition period as he moves into his new role.

Aquarian Insurance Holdings will consist of Somerset Reinsurance, Investors Heritage, and Hudson Life. Via Management Solutions will provide shared services and technology support across the businesses.

• Somerset Reinsurance is a Bermuda-domiciled reinsurer focused on providing capital-efficient reinsurance solutions to life and annuity insurers.
• Investors Heritage is a U.S. life and annuity insurer founded in 1960 in Frankfort, Kentucky, and acquired in 2018. Since its acquisition, Investors Heritage was ranked among the fastest-growing U. S. life and annuity insurers three times by S&P Global.
• Hudson Life is a life & annuity insurer acquired and rebranded by Aquarian in 2022 to provide insurance policies for New York State.
• Via is a premier third-party administrator servicing Aquarian’s insurance companies and third-party carriers. Via leverages the technology expertise and leadership developed through Investors Heritage including product and process management, and technology and information services.

“We see opportunity within the insurance sector, and Aquarian Insurance Holdings is the next evolution of our portfolio,” said Rudy Sahay, Founder and Managing Partner of Aquarian Holdings. “We’ll be able to leverage best practices and shared services across the organization, specifically the technology expertise and leadership within our Investor’s Heritage business. All of which position us for continued growth and expansion.”

About Aquarian Holdings
Aquarian is a diversified global holding company with a strategic portfolio of insurance and asset management solutions providing investment opportunities to millions of people. Aquarian invests across the capital structure and creates tailored financing solutions that enable great, high-quality companies to grow and evolve. Aquarian and its relying advisers serve as investment managers on approximately $22 billion of book value AUM as of December 31, 2024. For more information, visit aquarianlp.com.