Aspida Holdings in strategic partnership
Aspida Holdings, the life insurance and annuity company with a subsidiary in Bermuda, has formed a strategic partnership with two entities to support the growth of their respective businesses.
Durham, North Carolina-based Aspida is the parent of Aspida Life Re, a long-term Class E licence holder in Bermuda.
Aspida’s deal is with T Rowe Price Group Inc, a Nasdaq-listed global investment management firm with $1.61 trillion of assets under management, and T Rowe Price’s alternative credit subsidiary, Oak Hill Advisers.
In connection with the announcement, T Rowe Price and OHA expect to manage certain Aspida public and private assets.
In addition, the three organisations will explore product development and other growth initiatives.
T Rowe Price is an existing equity investor in Aspida, having previously taken a minority interest to support the long-term growth of the business.
Aspida is focused on providing retirement and reinsurance solutions to its annuity and institutional clients through its technology platform and open architecture asset management framework.
Launched in 2020, Aspida has grown its platform organically to over $19 billion in total assets, as of September 30, 2024.
“This announcement marks another significant step in our commitment to delivering exceptional financial security and service to our clients,” said Lou Hensley, chief executive and president of Aspida.