TOPEKA, Kan.--(BUSINESS WIRE)--SE2, a leading third-party administrator for the North American life insurance and annuity industry, announced today that Kuvare US Holdings, a growth-oriented life and annuity business, has chosen SE2 to modernize its technology systems, deliver technology innovations, enhance new product launch capabilities, and provide a broad range of administrative services that will distinguish Kuvare portfolio companies in the marketplace.
“We are pleased to have selected and to be working with SE2 for its in-depth insurance expertise, modern end-to-end technology platform, and ability to meet our rigorous service standards,” said Carlos Sierra, COO of Kuvare US Holdings. "This partnership will give the companies in our platform access to up-to-date technology and capabilities that should support our distribution partners’ ability to service the financial goals of our policyholders.”
In late 2016, Kuvare US Holdings completed the acquisition of Guaranty Income Life Insurance Company (“GILICO”) in Baton Rouge, Louisiana. SE2’s first project implementation for Kuvare is focusing on GILICO, utilizing Aurum, SE2’s proprietary state-of-the-art technology delivery platform. Among other benefits, this technology has enabled Kuvare’s recent national launch of an innovative indexed annuity product.
“We are privileged to team with Kuvare and GILICO in advancing and supporting their impressive current and future growth plans through the benefits of technology services,” said Gautam Thakkar, SE2’s CEO. “SE2 is dedicated to future-proofing our clients’ businesses, and our initiatives with Kuvare will be representative of SE2’s impactful contributions as a trusted partner.”
Kuvare is a leading insurance and reinsurance platform within the U.S. life and annuity marketplace, focused on delivering value-oriented solutions to the middle market. Founded in 2015, Kuvare is committed to a sustainable growth strategy, backed by a consortium of long-term capital firms collectively managing more than $20 billion. Including the most recent transactions, announced in 2017, a reinsurance commercial agreement through Kuvare Life Re Ltd., and the agreement to purchase United Life Insurance Company, Kuvare has pro forma consolidated assets of over $3.5 billion.
SE2, an Eldridge Industries portfolio company, is a leading technology and third party administration company focused on the North American life and annuity insurance industry. SE2 has an unmatched track record in optimizing back-office operations to future-proof insurance companies. SE2 combines peerless industry domain knowledge with a leading-edge administration technology platform to help clients launch products rapidly, improve efficiencies, shift to a variable cost model and maximize profits while dramatically improving the customers’ experience. SE2 supports more than 20 direct clients, represents more than 35 carriers in North America and services more than 1,000 life and annuity products. SE2 has approximately $100 billion in assets under administration and has been recognized as an industry-leading innovator. SE2 was recognized as one of the “20 Most Promising Insurance Technology Solution Providers” by CIOReview in 2017. Visit SE2 at www.SE2.com or at LinkedIn to learn more.
About Eldridge Industries
Eldridge Industries (“Eldridge”) is a private investment firm which provides debt and equity capital to support growing companies. Eldridge invests across diversified industries with a focus on media and sports, insurance, real estate development, asset lending and financing, branded food and hospitality, and asset management businesses. In particular, the firm seeks to build and grow companies led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. www.eldridge.com