# Forethought Life Insurance Company

Forethought Life Insurance Company is an Insurance based in Indianapolis, United States.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Indianapolis, United States
- **Region:** North America
- **Address:** Indianapolis, IN, United States
- **Founded:** 1985
- **Assets under management:** $200B
- **Website:** globalatlantic.com
- **LinkedIn:** https://www.linkedin.com/company/forethought-life-insurance-company

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Insurance
- Real Estate
- Infrastructure
- Private Credit

## Questions

### 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.

### 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.

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- [Forestview Financial Partners](https://altss.com/profile/forestview-financial-partners)
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Last updated: 2026-07-08T21:58:58.662Z

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