JAB Holding Company to acquire Prosperity Life Group
JAB Holding Company is set to acquire 100% of Prosperity Life , including its insurance companies and asset management unit, Prosperity Asset Management.
With over $25 billion in assets and one million policies, Prosperity will be central to JAB’s strategy to build a global life insurance platform.
The deal, backed by Elliott Investment Management and Prosperity Life Group, is expected to close in the second half of 2025, pending regulatory approvals.
Terms were not disclosed.
JAB aims to strengthen Prosperity’s platform for long-term growth, focusing on policyholders.
“Today marks the signing of the first major transaction as we launch JAB’s strategy to build a global insurance ecosystem. Our permanent capital base, insurance liability-first mindset and multi-generation investment horizon distinguish us in the market and offer a uniquely compelling value proposition for policyholders, distribution partners and reinsurance cedants. We are excited to partner with Nick, Deva and the Prosperity team to take stewardship of the next phase of its growth. Both the Prosperity leadership team and their current ownership group have built a great business, and we look forward to welcoming Prosperity to the JAB family.” – Anant Bhalla, Senior Partner and CIO of JAB.
“We are thrilled to work with JAB, a firm renowned for its decades-long track record of value creation. This transaction is a great outcome for all our stakeholders, including policyholders and employees, who will benefit from JAB’s strong commitment to the insurance value chain and a policyholder-centric approach. Backed by JAB’s permanent equity capital base, Prosperity is well-positioned for the next phase in its evolution as we continue to focus on offering innovative, comprehensive insurance solutions and leading customer service for our policyholders.” – Nicholas von Moltke, President & Chief Executive Officer of Prosperity.
“Our partnership with the Prosperity team marks a pivotal leap forward for JAB. Alongside our ongoing commitment to the consumer goods and services sectors, we are laser focused on diversifying our portfolio by building a global insurance platform to compound JAB’s book value for generations to come.” – Joachim Creus, Managing Partner, CEO and Vice Chairman of JAB.
“The buildout of a global life insurance platform adds multiple levels of diversification for JAB. The addition of Prosperity to the JAB group of companies, including Independence American Insurance Company (IAIC), a direct writer of pet health insurance in the U.S. with an excellent rating (A-) by A.M. Best, is accretive to the financial strength of the portfolio. This transaction will be executed in alignment with our financial policy.” – Frank Engelen, Managing Partner and CFO of JAB.
“We are proud to have supported Prosperity in building a world-class insurance platform. We are also pleased that the company has found an excellent partner for its next chapter of long-term growth.” – Mark Cicirelli, Senior Portfolio Manager and Global Head of Insurance at Elliott Investment Management.
“We believe this transaction underscores the importance of the insurance policyholder-focused approach to balance sheet management that has allowed us to create and successfully scale PAM into an institutional platform.” – Deva Mishra, Chief Executive Officer of PAM.
