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Newly formed Bermuda-domiciled reinsurance vehicle to accelerate Talcott's growth strategy by providing additional access to third-party capital
Talcott Financial Group ("Talcott"), an international life insurance group providing comprehensive risk solutions for customers across the retirement and insurance industry, today announced the establishment of West Grove Re, Ltd. ("West Grove Re" or "the sidecar"), a Bermuda-domiciled reinsurance sidecar, in partnership with Goldman Sachs. West Grove Re has closed an approximately $1 billion capital raise, including both equity commitments from Talcott, Goldman Sachs Asset & Wealth Management (AWM) and its clients, and a credit facility.
Enabled by Sixth Street and Talcott's open architecture asset management model and partnership approach, West Grove Re was established to support the accelerated growth of Talcott's insurance and reinsurance platform. The sidecar will participate in a quota share of certain Talcott-sourced U.S. annuities in a structure designed to further enhance Talcott's ability to deliver scalable, capital-efficient solutions to its stakeholders across a wide set of liabilities. Additionally, West Grove Re will benefit from Talcott's disciplined underwriting and risk management approach and deep insurance expertise, as Talcott will provide the sidecar support services across a range of functions, including actuarial, finance, compliance, and risk.
Goldman Sachs AWM will serve as a strategic partner to West Grove Re by acting as investment manager for private asset strategies. Other third-party investment managers are expected to manage the remainder of West Grove Re's assets.
"Establishing West Grove Re is another important step in Talcott's growth strategy, broadening our access to liabilities with varied costs of capital, while staying true to the strength of our platform as we continue to scale," said Imran Siddiqui, Chief Executive Officer of Talcott. "Partnering with Goldman Sachs further validates the business we have been building since Sixth Street's acquisition in 2021. By pairing our deep insurance expertise with Goldman's access to client capital and private asset origination franchise, we are enhancing our ability to support the evolving needs of our partners and the broader insurance market."
"We are excited to invest alongside Talcott and our clients in this solution for the insurance marketplace. Our private credit business will bring a rigorous credit selection process, access to a deep sourcing and origination funnel through our investment bank, and our expertise in markets and risk management to this partnership," said Vivek Bantwal, Global Co-Head of Private Credit at Goldman Sachs Alternatives.
Cleary Gottlieb Steen & Hamilton LLP, Kennedys Law LLP, and Kirkland & Ellis LLP acted as legal advisors to Talcott. Goldman Sachs was advised by Goldman Sachs Global Banking and Markets as financial advisor and Debevoise & Plimpton LLP and Appleby (Bermuda) Limited acted as legal advisors.
About Talcott Financial Group
Talcott Financial Group, an international life insurance group, combines a longstanding industry track record, deep risk management expertise, and the agility needed in today's market to deliver comprehensive risk solutions to customers across the insurance industry. With $134 billion in assets under management as of March 31, 2026, investment-grade financial strength ratings, and a partnership with Sixth Street, a leading global investment firm, Talcott is well positioned to serve as a high-quality counterparty to its clients and policyholders. Talcott has offices based in Bermuda, the Cayman Islands, Connecticut, New York, and North Carolina.
For more information, visit www.talcott.com or follow Talcott Financial Group on LinkedIn .
About Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $706 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives, including private equity, growth equity, venture capital, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has more than $4.0 trillion in assets under supervision globally as of June 30, 2026.
Goldman Sachs Asset Management managed approximately $508 billion of insurance AUS as of March 31, 2026.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20260803466906/en/
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For Talcott Financial Group:
FGS Global
Talcott@fgsglobal.com
(212) 687-8080
For Goldman Sachs Asset & Wealth Management:
Mary Athridge
Mary.Athridge@gs.com
(212) 902-5400
