Knighthead acquires Merit Life Insurance

Knighthead Insurance Group has acquired Merit Life Insurance Co., rebranding it as Knighthead Life to expand into the US market.

Knighthead Life will offer a multi-year guaranteed annuity (MYGA) supported by an A- rating from AM Best, leveraging the group’s $5.5 billion annuity reserves and recent $550 million capital raise to address growing retirement needs.

“We are incredibly excited to have acquired Merit Life. Merit’s consumer-centric approach, focus on technology, and innovative retirement solutions made it an ideal fit for Knighthead Insurance. The newly branded Knighthead Life is pivotal to fulfilling our long-term business objectives of bringing Knighthead’s insurance and reinsurance expertise to the United States.” – Tom Wagner, co-Chairman of the Knighthead Insurance Group and co-founder of Knighthead Capital Management.