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Prosperity Life Insurance Group
Prosperity Life Insurance Group was founded in 2009 by Black Diamond Capital Partners and Reservoir Capital Group, acquiring legacy carriers Shenandoah Life...
Prosperity Life Insurance Group
Prosperity Life Insurance Group was founded in 2009 by Black Diamond Capital Partners and Reservoir Capital Group, acquiring legacy carriers Shenandoah Life (2012) and SBLI USA (2014) through sponsored demutualizations. Elliott Management took majority control in 2019, and the platform scaled further under CEO Nicholas von Moltke before JAB Holding bought the group in September 2025 and appointed Michael Ferik as CEO. The firm's four primary carriers — S.USA, National Western Life, SBLI USA, and Shenandoah Life — trace their roots back to 1916. Prosperity deploys its general-account assets across private credit, commercial real estate debt, and structured fixed-income. The firm established Prosperity Asset Management in 2022 to manage investments internally, and it operates a Bermuda reinsurance vehicle via Prosperity Life Assurance Ltd. The commercial mortgage portfolio was a notable allocation under Elliott's ownership (per Altss estimate). In July 2024, the group added National Western Life Insurance Company, expanding its annuity and life footprint into 49 states and select US territories. The firm's consolidated book value AUM reached $29.3B as of March 2025, driven by organic policy growth and the NWL acquisition. A Bermuda-based reinsurance subsidiary, formed in 2020, supports block and flow reinsurance solutions for third-party cedents. Nick Volpe joined as CTO in a recent operational move, and Rona Guymon was appointed President of Retail Life and Annuity to lead the direct-to-consumer channel. Job postings indicate the team has grown in Austin, New York, and Roanoke, with technology and operations roles supporting the EXL third-party administrator partnership. Where most JAB Insurance platforms began as European-focused bolt-ons, Prosperity gives the group immediate US balance-sheet scale in the fragmented middle-market life and annuity sector. The four-carrier structure allows for regulatory diversification and product specialization — S.USA and NWL cover broad national markets, while SBLI USA addresses New York-specific distribution and Shenandoah serves legacy Virginia policyholders — a structural setup designed for both organic growth and future M&A roll-ups.
General information
Firm type
Insurance
Year founded
2009
AUM
$29.3B (per firm website, March 2025)
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
Bermuda · Austin, TX · Roanoke, VA
Principals
Michael Ferik
Chief Executive Officer
Rona Guymon
President, Retail Life and Annuity
Nick Volpe
Chief Technology Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Prosperity Life Insurance Group?
The firm formed Prosperity Asset Management in 2022 to manage its general-account portfolio internally, rather than relying on external sub-advisors. CEO Michael Ferik oversees the executive team that governs asset allocation, but the firm does not publicly identify a single CIO or list the investment committee. Elliott Management's Co-CEO Jonathan Pollock was a controlling figure during the firm's 2019–2025 ownership period (per Altss estimate).
How is Prosperity Life Insurance Group related to JAB Holding?
JAB Holding acquired Prosperity Life Insurance Group in September 2025 through its JAB Insurance arm, making Prosperity the group's largest US life-insurance platform. Before the sale, Elliott Management had controlled Prosperity since 2019. The transaction positioned Prosperity alongside JAB's existing European insurance investments.
Does Prosperity participate in acquisitions beyond its traditional insurance lines?
Yes. The firm has an active M&A track record, including the 2024 acquisition of National Western Life Insurance Company and the 2025 post-acquisition appointment of a new retail president to drive direct-to-consumer growth. Its corporate timeline also lists sponsored demutualizations of Shenandoah Life (2012) and SBLI USA (2014).
What is Prosperity Life Insurance Group's known posture on co-investments alongside external partners?
The firm does not advertise co-investment opportunities beyond its internal asset management capabilities. However, Wand Partners co-invested alongside Elliott during Prosperity's earlier ownership phase (per Altss estimate), and the firm's reinsurance subsidiary engages in block-flow transactions with cedents, which can function as structured partnerships.
Which investment sectors does Prosperity Life Insurance Group explicitly avoid?
The firm does not publish exclusionary policies, but its described allocation — private credit, commercial mortgages, and structured fixed-income — suggests it avoids public equities, direct venture, and traditional private equity buyout strategies.
Does Prosperity maintain philanthropic structures, and how are they separated?
The firm lists a corporate partnership with New York Cares but does not disclose a private foundation or donor-advised fund structure. Unlike some family-backed insurers, Prosperity's ownership is institutional, so charitable activities are likely managed at the corporate level rather than through a family office vehicle.
What insurance ratings does the group carry?
As of September 2024, S.USA and National Western Life carried an S&P Global Financial Strength Rating. The group's other carriers are rated by AM Best and Kroll, though specific ratings were not published on the firm's site beyond the September 2024 update.
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.
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