Talcott launches $1 billion reinsurance sidecar with Goldman Sachs

Talcott Financial Group has launched West Grove Re, a Bermuda-domiciled reinsurance sidecar established in partnership with Goldman Sachs, raising approximately $1 billion through equity commitments from Talcott, Goldman Sachs Asset & Wealth Management and its clients, along with a credit facility.

The vehicle is designed to support Talcott’s growth strategy by providing additional access to third-party capital. West Grove Re will assume a quota share of certain Talcott-originated U.S. annuity liabilities, allowing the insurer to expand its insurance and reinsurance platform with a more capital-efficient structure.

Talcott will provide the sidecar with actuarial, finance, compliance, risk management, and other support services, while Goldman Sachs Asset & Wealth Management will oversee private asset investment strategies. Additional third-party investment managers are expected to manage the remainder of the portfolio.

The transaction builds on Talcott’s evolution since its acquisition by Sixth Street in 2021. The company manages $134 billion in assets as of March 31, 2026, while Goldman Sachs Alternatives oversees more than $706 billion in alternative assets globally and approximately $508 billion in insurance assets under supervision.