Updated:
Forethought Life Insurance Company
Established in 1985 as a subsidiary of Hillenbrand Industries, Forethought Life Insurance Company was originally created to sell pre-need funeral policies...
Forethought Life Insurance Company
Established in 1985 as a subsidiary of Hillenbrand Industries, Forethought Life Insurance Company was originally created to sell pre-need funeral policies through Batesville Casket Company's distribution network. The firm expanded its reach across the United States, the District of Columbia, Puerto Rico, and Canada, eventually outgrowing its niche to become a multi-line life insurer. The underlying wealth engine remains its general-account investment portfolio, which generates spread income against long-dated liabilities tied to annuity and life insurance policyholders. The general account deploys across investment-grade private credit, commercial mortgage loans, real estate, infrastructure debt, and select alternative strategies. Known portfolio allocations include a direct mortgage loan portfolio secured by U.S. commercial properties and a dedicated solar asset portfolio holding operational renewable-energy projects. The firm also maintains a position in the PIMCO CommodityRealReturn Strategy Portfolio, reflecting an inflation-hedging sleeve within its broader asset-liability management framework. Its investment platform was consolidated under Global Atlantic Financial Group, a Bermuda-domiciled reinsurance and annuity platform originally incubated inside Goldman Sachs before being spun out as an independent entity. Global Atlantic was acquired by KKR & Co. Inc. in a landmark deal that closed in January 2024, marking one of the largest private-equity acquisitions of an insurance platform. The transaction folded Forethought's general-account assets into KKR's growing permanent-capital strategy, which leverages insurance float to anchor its private-credit and infrastructure investing engines. Japan Post Insurance, a longstanding strategic partner, reinforced the relationship in 2025 by committing $2 billion to a Global Atlantic-sponsored reinsurance vehicle. The Global Atlantic Foundation operates as the philanthropic arm of the enterprise. Forethought's structural distinction is that it operates as a regulated U.S. life-insurance subsidiary within a broader Bermuda-based reinsurance group owned by the world's second-largest alternatives manager. This architecture allows KKR to pair its asset-origination capabilities with a permanent pool of policyholder liabilities, creating a self-reinforcing funding model uncommon among traditional asset owners. The general account is not externally marketed capital — it is balance-sheet money managed against actuarial reserves under state insurance regulation.
General information
Firm type
Insurance
Year founded
1985
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Indianapolis
Corporate office
Indianapolis, IN, United States
Sector focus
Frequently asked questions
What is the relationship between Forethought Life Insurance and Global Atlantic?
Forethought Life Insurance Company is a wholly-owned U.S. insurance subsidiary of Global Atlantic Financial Group. Global Atlantic serves as the parent holding company and primary marketing brand, while Forethought houses the regulated life-insurance legal entity. Both operate under the same enterprise umbrella, which KKR acquired in full in January 2024.
How does KKR's ownership change Forethought's investment strategy?
KKR's ownership integrates Forethought's general-account assets into KKR's permanent-capital base. The insurer's policyholder liabilities provide stable, long-duration funding that KKR can pair with its private-credit, infrastructure, and real-estate origination capabilities. Forethought's asset-liability management now benefits from direct access to KKR's deal pipeline and underwriting resources.
What types of assets does Forethought hold in its general account?
The general account is allocated across investment-grade private credit, commercial mortgage loans, infrastructure debt, and select alternative strategies. Confirmed holdings include a commercial mortgage loan portfolio in the United States and the Forethought Solar Asset Portfolio, which holds operational renewable-energy projects. The firm also maintains a position in the PIMCO CommodityRealReturn Strategy Portfolio as an inflation-hedging sleeve.
Does Forethought allocate to third-party fund managers or only direct investments?
Forethought uses a hybrid approach. The general account holds direct investments in mortgage loans and real assets, alongside fund commitments to external managers such as PIMCO. Under KKR's ownership, the balance has shifted toward direct origination and co-investment alongside KKR-managed strategies, though the firm continues to evaluate third-party mandates for specialized exposures.
What is Forethought's connection to the funeral insurance industry?
Forethought was founded in 1985 as a subsidiary of Hillenbrand Industries, specifically to sell pre-need funeral insurance policies through Batesville Casket Company's funeral-home distribution network. While the firm has since expanded into annuities and broader life-insurance products through the Global Atlantic platform, its pre-need book remains a legacy business line.
Who are Forethought's key institutional partners outside of KKR?
Japan Post Insurance is a significant strategic partner, having invested $2 billion in a Global Atlantic-sponsored reinsurance vehicle in 2025. Goldman Sachs was a prior owner of Global Atlantic before the firm was spun out as an independent company, a legacy relationship that shaped the platform's early institutional architecture.
Is Forethought structured as a single-family office or a traditional insurance company?
Forethought is a traditional regulated life-insurance company, not a family office. It is an asset owner by virtue of its general account, which invests policyholder premiums to meet long-dated actuarial liabilities. The firm's investment function is institutional in nature but operates within state insurance regulatory frameworks rather than as a discretionary family-wealth vehicle.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on investors?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: