World Atlantic provides Edward Root to steer PRT reinsurance enterprise
Life and annuity insurer Global Atlantic Financial Group has appointed Edward Root as managing director of its pension risk transfer business.
Root reports to Manu Sareen, President of Institutional Markets, Global Atlantic, and Chief Executive Officer, Global Atlantic Re.
Root has over 20 years of experience advising large pension plan sponsors and has worked on more than 1,000 PRT transactions.
Most recently he was managing director at Willis Towers Watson and head of the consulting company’s PRT group.
Commenting on his appointment, Root said: “I am very excited to join Global Atlantic to grow the PRT business.”
“The company’s focus on bespoke solutions combined with its financial strength and transactional expertise makes it an attractive business partner for companies looking for options to free up capital by cutting costs or reducing the risk of future pension obligations.”
“Global Atlantic has grown its PRT reinsurance business rapidly. By adding Edward to our team, we are reaffirming our commitment to the PRT space,” said Sareen.
“We are happy to have him on board. With Ed’s addition and the recent promotions of Darryl Herrick and Jason Kao as co-heads of block and flow reinsurance, we continue to invest in and grow our leading block, flow and PRT reinsurance franchise. “