West Grove Re aims to expand Talcott’s capacity for US annuities and scalable reinsurance solutions with Goldman Sachs as strategic partner.
Talcott Financial Group and Goldman Sachs Asset & Wealth Management have launched West Grove Re, a Bermuda-domiciled reinsurance sidecar, after raising approximately $1bn. The funding includes equity from Talcott, Goldman Sachs, and its clients, alongside a credit facility, supporting growth in Talcott’s insurance and reinsurance platform.
The sidecar will participate in a quota share of Talcott-sourced US annuities, leveraging the firm’s open architecture asset management model. Talcott stated the structure enhances its ability to deliver capital-efficient solutions across liabilities, with Goldman Sachs acting as investment manager for private assets.
Talcott CEO Imran Siddiqui noted the launch broadens access to varied capital costs while scaling the platform. The partnership combines Talcott’s insurance expertise with Goldman Sachs’ client capital and asset origination capabilities.