Since the world-wide financial crisis of 2008, private-equity, asset-management and other types of financial firms have bought up blocks of life-insurance policies and annuities, and even entire operating units, as insurers narrowed their focus and divested product lines. Ultralow interest rates have prompted much of the activity, hurting insurers’ profits.
| less than a minute read
Allstate to sell life insurance unit to Blackstone for $2.8b
"We’re pleased to enter into this transaction as Blackstone continues growing its insurance business,” said Gilles Dellaert, global head of Blackstone Insurance Solutions, in a statement.
