Bermuda Triangle Story Archives - Retirement Income Journal

Shorts Reveal Jackson National’s Journey toward ‘Bermuda Triangle’

By Kerry Pechter Thu, Oct 1, 2026

QVT is shorting Jackson Financial's stock. The investment firm thinks Jackson National Life is using affiliated reinsurance to release capital for share buybacks. To me, Jackson National is playing...

Published October 2026

PE-led life insurers hold half of industry’s affiliated investments: NAIC

By Editorial Staff Sat, Sep 26, 2026

Life insurers owned or led by private equity companies, or alternative asset managers, also accounted for about 95% of affiliated asset-backed securities (ABS), half of affiliated issuer credit obligations,...

Published October 2026

How Leveraged Are Bermuda Triangle Life Insurers?

By Kerry Pechter Tue, Sep 1, 2026

The 'capital-light' strategies of Bermuda Triangle companies rely heavily on leverage. RIJ identifies several ways in which affiliated life insurers, asset managers and reinsurers use other people's money.

Published September 2026

AM Best marks growth of offshore reinsurance

By Editorial Staff Mon, Aug 31, 2026

'Unaffiliated reinsurance deals outpaced affiliated deals in 2025 for the first time in three years, with the 10 largest unaffiliated reinsurance transactions in 2025 totaling over $107 billion, greatly...

Published September 2026

A Flurry of Activity in the Triangle

By Editorial Staff

Two regional banks pause sales of Delaware Life annuities; Malibu Life partners with Legacy Marketing to launch its first FIAs; Sun Life and Wilton Re in asset management/reinsurance deal;...

Published September 2026

Mark Walter Brings Eyeballs to the Bermuda Triangle (I Hope)

By Kerry Pechter Sun, Aug 30, 2026

Maybe the investigation of Dodgers' owner Mark Walter, Guggenheim Partners and Delaware Life will bring overdue attention to the private credit/annuity strategy that RIJ calls the 'Bermuda Triangle.'

Published September 2026

Why Alt-Asset Managers Shouldn’t Own Life Insurers

By Larry Rybka Sat, Aug 29, 2026

"We find it hard to recommend an alt-asset-manager-owned carrier when a comparable, well-run mutual or publicly traded company is available instead," writes Larry Rybka, chairman and CEO of Valmark...

Published September 2026

When the AI Bubble Bursts, Who Will Be Left Holding the Bag?

By Eileen Appelbaum

The author, co-director of the Center for Economic Policy and Research, shares new research from Yale on the Bermuda Triangle warning that the risks of private credit may fall...

Published September 2026

Group 1001’s ‘affiliated transactions’ spark federal investigation

By Editorial Staff Sat, Aug 1, 2026

In other Bermuda Triangle news, Lincoln sets investment deal with Bain Capital, reinsurance deals with Fortitude and Talcott; Venerable to manage Guardian variable annuity assets.

Published August 2026

Major financial firms partner on public/private model portfolios

By Editorial Staff Wed, Jul 1, 2026

The partnership combines Morningstar Wealth’s research and asset allocation expertise, public market strategies from Franklin Templeton and J.P. Morgan Asset Management, and private market strategies from Apollo and Franklin...

Published July 2026

Cayman Islands seeks ‘qualified jurisdiction status’

By Editorial Staff Tue, Jun 2, 2026

'QJS would formally recognize the Cayman Islands’ reinsurance regulatory framework within the NAIC process and further align it with U.S. supervisory expectations. About 90% of the jurisdiction’s business is...

Published June 2026

News from the Bermuda Triangle

By Editorial Staff Mon, Jun 1, 2026

Prismic Life raises $1.9 billion in new capital; Japanese insurance giant commits $19 billion to Barings; MassMutual sells $6 billion block of life insurance to Nationwide; Augustar Retirement launches...

Published June 2026

Former American Equity CEO partners with Agam Capital

By Editorial Staff Mon, May 4, 2026

A new RIA formed by Anant Bhalla (right), the CEO of American Equity Investment Life from 2020 to 2024, is partnering with Agam Capital, a global asset manager that...

Published May 2026

Bermuda Short-Sellers

By Kerry Pechter Sun, May 3, 2026

Short-sellers, including hedge funds, sense that the bespoke loans that asset managers have sold to life insurers could fail in the next financial crisis. They may not know it,...

Published May 2026

Corebridge-Equitable Merger: An Aftershock of 2008

By Kerry Pechter Wed, Apr 1, 2026

In 2008, Corebridge was still AIG’s retirement business and Equitable had not yet separated from French insurance giant AXA. (Back then, ING-US hadn’t become Voya and MetLife hadn’t yet...

Published April 2026

News from around the Bermuda Triangle

By Editorial Staff Tue, Jan 6, 2026

Corebridge moves the last of American General's variable annuity business to Venerable, which is partly owned by Apollo and Athene. AM Best confirmed the ratings of Bermuda reinsurers of...

Published January 2026

A Bridge from Private Markets to 401(k)s?

By Editorial Staff Sun, Nov 2, 2025

Secondaries are to private markets what repo markets once were to banking —a critical but sometimes invisible layer of leverage and liquidity.

Published November 2025

Axonic Insurance gets $210 million from new investors

By Editorial Staff Fri, Oct 31, 2025

'We’re decomposing the insurance industry into its parts,” Axonic Insurance CEO Michael Gordon told RIJ in 2024. “We want to make Lego sets, and put pieces together.'

Published November 2025

Third Point Joins the Triangle, Cayman-Style

By Kerry Pechter Thu, Oct 30, 2025

Another asset manager goes subtropical. Third Point Investors Ltd. established Malibu Re in the Cayman Islands, bought a Texas life insurer from Mutual of America, acquired a private credit...

Published November 2025

ChatGPT on Equitable, Solvency II and the Bermuda Triangle

By Editorial Staff Wed, Sep 3, 2025

Equitable's corporate journey since 2010 involved its separation from AXA of France. ChatGPT explains that Europe's 2016 "Solvency II" regulations accelerated the split.

Published September 2025