Accordia Life (Global Atlantic)
Corporate History (The "Orphan Policy" Lineage)1905–2001: The Indianapolis Life EraThe core charter of Accordia traces back to Indianapolis Life Insurance Company, a mutual company founded in 1905. For nearly a century, it was a staple of the Midwest insurance market.
- 2001: Indianapolis Life demutualized and merged with AmerUs Life, an Iowa-based insurer. The "Indianapolis Life" brand continued to be used for marketing during this period.
2006–2013: The Aviva EraIn 2006, the British insurance giant Aviva plc acquired AmerUs for $2.9 billion.
- Rebrand: The entire U.S. operation (including Indianapolis Life) was rebranded as Aviva USA.
- Market Position: During this time, Aviva USA became a dominant player in the Indexed Universal Life (IUL) market.
2013: The Athene / Global Atlantic SplitIn a complex transaction, Athene Holding purchased Aviva USA to acquire its annuity assets. However, Athene did not want the life insurance business.
- The Split: Athene immediately sold the life insurance division to Global Atlantic Financial Group (then known primarily as Commonwealth Annuity).
- The Rebrand (2014): Global Atlantic renamed the acquired "Aviva Life and Annuity Company" to Accordia Life and Annuity Company.
2024: The KKR AcquisitionWhile Global Atlantic operated as a private company for years, the investment firm KKR began acquiring stakes in 2021.
- January 2024: KKR completed the acquisition of the remaining outstanding shares, making Accordia Life (via Global Atlantic) a wholly-owned subsidiary of KKR.
Summary of Name Changes and Mergers
- 2001 - Merger - Indianapolis Life merged with AmerUs Life.
- 2006 - Acquisition - Aviva plc acquired AmerUs and rebranded the entity as Aviva USA.
- 2013 - Divestiture - Athene purchased Aviva USA and sold the life insurance block to Global Atlantic.
- 2014 - Rebrand - Aviva Life and Annuity Company was renamed Accordia Life.
- 2024 - Ownership - KKR acquired 100 percent of parent company Global Atlantic.
- Entity Type: Stock Life Insurance Co (Subsidiary)
- NAIC Company Code: 62200
- State of Domicile: Iowa
- Predecessor Entities:
- Aviva Life and Annuity Company (Renamed 2014)
- AmerUs Life Insurance Company (Merged)
- Indianapolis Life Insurance Company (Merged)
- Company Name: Accordia Life and Annuity Company
- Parent Organization: Global Atlantic Financial Group
- Ownership Status: KKR & Co. Inc. (NYSE: KKR) acquired 100% ownership of Global Atlantic in January 2024.
- Headquarters: Des Moines, Iowa
- Primary Focus: Indexed Universal Life (IUL), Term Life, and Annuities.
- Distribution Model: Independent Marketing Organizations (IMOs) and Brokerage General Agencies (BGAs).
- Financial Strength: Rated A (Excellent) by AM Best.
