Talcott Financial Group launches reinsurance sidecar West Grove Re with Goldman Sachs, securing ~$1bn in capital
The Bermuda-domiciled vehicle, West Grove Re, closed a capital raise of approximately $1 billion, with funding from equity commitments by Talcott and Goldman Sachs Asset & Wealth Management (AWM) and its clients, alongside a credit facility. Goldman Sachs AWM will also act as investment manager for West Grove Re's private asset strategies. Talcott stated that West Grove Re was established to support accelerated growth across its insurance and reinsurance platform and will participate in a quota share of certain Talcott-sourced US annuities.
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