Venerable Holdings Inc. has completed the acquisition of SunAmerica Asset Management LLC and closed a related reinsurance transaction involving The United States Life Insurance Company in the City of New York, completing the last two parts of an agreement with Corebridge Financial Inc. that was announced in June 2025.
Corebridge said the closing covered the reinsurance of all Individual Retirement variable annuities issued by United States Life and the sale of the related investment adviser and manager, SunAmerica Asset Management.
The announcement follows an August 2025 closing that covered the largest portion of the agreement, reinsuring all Individual Retirement variable annuities issued by American General Life Insurance Co., a Corebridge insurance subsidiary.
Venerable said it also began new business variable annuity flow reinsurance as part of that earlier step.
Venerable said the SunAmerica Asset Management acquisition adds 53 employees to the company. Venerable said it is also establishing a new office in Houston and expanding its presence in New York City at One World Trade Center.
Tim Brown (pictured above), president of Venerable Advisers, said: “We are thrilled to welcome our new colleagues from SAAMCo to our Venerable community. Their deep expertise will be invaluable as we continue to grow our investment adviser capabilities and offerings, and I’m confident their talent will help drive our collective success.”
With all three transactions completed, Venerable said total assets under risk management would increase from US$67 billion to US$118 billion on a pro forma basis as of March 31, 2025. Venerable said the acquisition of SunAmerica Asset Management would more than triple assets under management across affiliated advisers to about US$52 billion.
“The successful close of all aspects of this landmark agreement marks a pivotal moment for Venerable,” said David Marcinek, chairman and CEO of Venerable. He said the expanded structure increases Venerable’s capacity to provide risk transfer solutions to insurance clients and the broader retirement sector.
Citi and Wells Fargo Securities served as financial advisers to Venerable on the transaction, with Milliman as actuarial adviser and Sidley Austin as legal counsel, Venerable said.
