JAB to build a global insurance platform
JAB Holding Company will build a global insurance platform and establish an asset management company under the leadership of Anant Bhalla, who has joined as Senior Partner and Chief Investment Officer.
JAB has already built one of the world’s leading pet insurance businesses. Through Independence Pet Holdings and Pinnacle Pet Group, JAB owns 20+ pet insurance brands that operate in 10+ countries, insure 5+ million pets, and will generate more than $3 billion in global revenues in 2024.
Bhalla will oversee the development of JAB’s global insurance business and its asset management business focused on insurance balance sheet investing across thematic sectors beyond consumer goods and services.
Before joining JAB, Bhalla had been President & CEO of American Equity Investment Life Holding Company since 2020, ultimately leading its take private sale to Brookfield Reinsurance at a valuation of $4.3 billion, representing a 3+ times total shareholder return over his tenure at AEL. He previously served as a public company CFO of Brighthouse Financial as it spun out of MetLife in 2017 and, before that, CFO of MetLife’s U.S. Retail Insurance Businesses. Over the past 24 years, Bhalla has also served in numerous senior roles in insurance and asset management at Fortune 500 companies, including American International Group, Lincoln National Corporation, and Ameriprise Financial.
“This is the next phase of JAB’s evolution into a more diversified investment firm. With this milestone, we are ideally positioned to deliver sustainable, long-term shareholder value for generations to come” – Peter Harf, Managing Partner, Founder, and Chairman of JAB.
“In 2012, Peter set in motion a long-term strategic vision to transform a family office into a leading investment firm in consumer goods and services. Today, JAB manages more than $50 billion of assets, including a fast-growing pet insurance business. We will expand on our success in insurance with the build out of a global insurance platform and asset manager led by one of the most successful veterans in the industry. Anant is an incredible talent with a proven track record of creating sustainable value through the convergence of asset management and insurance. We are very fortunate to welcome him to the JAB Partnership.” – Joachim Creus, Managing Partner, Vice Chairman, and CEO of JAB.
“Pet insurance, which sits at the crossroads of consumer products and insurance, was a natural first step into insurance for JAB. As we expand beyond consumer, our priorities include creating a global insurance business and thematic asset management capabilities, significantly diversifying JAB’s investment portfolio for the benefit of our shareholders.” – Frank Engelen, Managing Partner, and CFO of JAB.
“The future of insurance is permanent capital. I couldn’t be more excited to join Peter, Joachim, and Frank as they shape the evolution of the JAB ecosystem for future generations, and I am energized by the art of the possible for the insurance marketplace as we tap JAB’s permanent, perpetual capital base.” – Anant Bhalla.
