JAB Insurance Launches JAB Institutional Platform and Appoints Key Executives

JAB Insurance today announced the launch of JAB Institutional, a next-generation growth and innovation platform focused on insurance, reinsurance, and financial services. Ramnath Balasubramanian, a former McKinsey & Company senior partner who co-led its global Life Insurance and Retirement practice, has been appointed Chief Executive Officer of JAB Institutional. Ed Sunoo, an industry veteran who most recently was with Munich Re, has joined as Global Head of JAB Re, where he will lead the firm's internal and external reinsurance business. JAB Insurance comprises three verticals: a client-focused U.S. retail platform, an institutional business initially focusing on global reinsurance, and a pension risk solutions platform.

JAB Re is the flagship reinsurance and capital solutions business of JAB Institutional, backed by JAB Insurance. JAB Re offers customized solutions, through its Bermuda and U.S. legal entities, to insurers and other reinsurers across the globe to help them manage their risks and capital.

JAB Institutional is building a planning-led financial advisory and wealth management business to help individual clients with protected accumulation and guaranteed income, and in securing durable outcomes for the uncertainty in life. This is part of JAB Insurance's broader mission to address the growing retirement security gap and help people achieve financial freedom. The business is expected to pair a technology-enabled, open-architecture platform with experienced financial advisors to deliver personalized, client-focused guidance at scale.

“Over the past two years, we have built JAB Insurance into an at-scale U.S. life and retirement player with our individual client-focused platform, Prosperity Life Group, and expansion into the U.K. pension market with the expected closing of the Utmost Life & Pensions transaction later this year. The natural next step for further expansion is putting our permanent capital to work as an institutional partner – starting with reinsurance and, over time, extending into financial advisory and wealth management,” said Anant Bhalla, Executive Chairman of JAB Insurance.

“I am excited to join JAB Insurance for the unique combination of permanent capital, a long-term value-creation mindset, and deep expertise in insurance and financial services. This gives us a differentiated platform to build and scale an enduring business,” said Balasubramanian.

“Insurers and reinsurers today are looking for creative, well-capitalized, long-term partners who can provide reinsurance solutions for their risk and capital needs – that's the gap JAB Re is built to address,” said Sunoo.

About Ramnath Balasubramanian

Balasubramanian joins JAB Insurance to lead JAB Institutional, bringing more than two decades of experience in insurance M&A, enterprise and capital strategy, and growth acceleration across North America, Europe, and Asia. Most recently a Senior Partner at McKinsey & Company and global co-leader of its Life Insurance and Retirement practice, he helped establish McKinsey's insurance risk and actuarial capabilities and founded McKinsey's Private Capital-Insurance joint venture and capital/balance sheet service line.

About Ed Sunoo

Sunoo joins JAB Insurance with more than three decades of experience working with insurance companies and a proven track record of building new businesses. He spent 20 years at leading investment banks and, most recently, 10 years at Munich Re. At Munich Re, he founded the firm's U.S. structured reinsurance business.

About JAB Institutional

JAB Institutional is a next-generation growth and innovation platform within JAB Insurance, focused on insurance and financial services. Backed by permanent capital, JAB Institutional's primary business is global reinsurance.

About JAB Insurance

JAB Insurance is the global insurance business of JAB Holding Company, which includes a client-focused U.S. retail platform in the U.S., Prosperity Life Group; an institutional business initially focusing on global reinsurance, JAB Institutional; and a pension risk solutions platform, JAB Pensions. JAB Insurance, which has more than $25 billion in general account assets, invests in life insurance, annuity, and retirement businesses supported by integrated reinsurance and investment capabilities. Headquartered in Miami.