Hartford’s Nassau Financial Group said two fellow Connecticut-based insurance businesses have invested $100 million to help grow its insurance and asset management businesses and make additional acquisitions.
The equity investment from Norwalk’s Wilton Reassurance Co. and Greenwich’s Stone Point Credit, aimed at growing Nassau’s annuities and asset management offerings, could grow over time, the company said Monday.
San Francisco private equity firm Golden Gate Capital, which helped launch Nassau in 2015, remains the lead shareholder. Nassau entered the Hartford market a year later through its acquisition of Phoenix Cos., headquartered in the Boat Building at 1 American Row.
Last summer, Nassau acquired New York-based Foresters Life Insurance and Annuity Co.
The company, which has $26.9 billion in combined assets, also operates a Hartford incubator program, called Nassau Re/Imagine, to nurture insurtech startups.
