Group One Thousand One Launches
Group One Thousand One was launched today as a newly rebranded insurance group in the United States. The group is a privately-owned insurance business with approximately 340,000 policyholders and $37 billion in assets. The rebranded group includes Delaware Life Insurance Company and Delaware Life Insurance Company of New York.
Group One Thousand One will continue operating Delaware Life Insurance Company and its subsidiary, Delaware Life Insurance Company of New York. The re-branded group will provide full continuity to all existing customers and its network of financial advisors, agents and broker-dealers. Daniel Towriss, a veteran insurance executive and president of Delaware Life Insurance Company, will lead the group.
“We have created Group One Thousand One to expand our impact and pursue opportunities to bring new products and services to a wider range of people. This will allow us to build on our strong performance record to continue developing new ways for people to save and plan for their futures,’’ said Towriss.
“Our commitment extends beyond our people and our customers. We are passionate about supporting local initiatives that create opportunities for under-served communities through education and sports. Most recently, we are proud supporters of the Fields & Futures initiative in Oklahoma City.”
About Group One Thousand One
Group One Thousand One, formerly known as Delaware Life Holdings, is a newly-rebranded insurance holding company in the United States, with current combined assets under management of approximately $37 billion. Group One Thousand One includes Delaware Life Insurance Company and its subsidiaries and affiliates, including Delaware Life Insurance Company of New York.
About Daniel Towriss
Mr. Towriss, an actuary by training, was chief risk officer for a unit of the international insurance company Aegon when he joined Guggenheim Partners in 2009.
As Guggenheim Partner’s insurance expert, Mr. Towriss helped the firm acquire and oversee a number of life insurance companies, in each case building a track record for growth and a return to profitability.
While he continued at Guggenheim Partners, a group of private investors ‒ led by Mr. Towriss ‒ separately created Delaware Life Holdings in 2012 to acquire the U.S. annuities and certain life insurance business of the Canadian company, Sun Life Financial.
Under Mr. Towriss’s leadership, Delaware Life Holdings reorganized and revitalized the acquired businesses returning them to growth and profitability, with sales of new insurance products growing in excess of 20 percent annually.