Global Atlantic Financial Group Ltd., an insurance and reinsurance company, has acquired Forethought Financial Group Inc., a financial services company and subsidiary of Global Atlantic. The acquisition includes Forethought’s products and designs, distribution, marketing, intellectual capital, workforce and all in-force business.
Global Atlantic said Forethought will continue to operate its preneed life insurance and annuity businesses under the Forethought name. The business will be led by Michael Reardon, who joins Global Atlantic, retaining his position as president of Forethought Life Insurance Co. He will report to Allan Levine, chairman and CEO of Global Atlantic.
John Graf, who had been chairman, president and CEO of Forethought, will join the board of Global Atlantic and become non-executive vice chairman of the Life and Annuity Business. He will work with Levine and the management team on an overall strategy for the combined organization. Other key leaders of both Global Atlantic and Forethought’s management will remain in place, Global Atlantic added.
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