MIAMI & NEW YORK, September 08, 2025 — JAB Insurance today announced that it has completed its acquisition of Prosperity Life Group (“Prosperity”) from Elliott Investment Management. With nearly $30 billion in assets and one million policyholders, Prosperity will become a foundational part of the JAB Insurance business.
Prosperity serves approximately one million policies through protection and retirement solutions. Prosperity holds a financial rating of A- (Stable) from A.M. Best, S&P Global and KBRA. JAB Insurance plans to further strengthen Prosperity’s life insurance businesses and position it for long-term sustainable growth with a focus on policyholders.
Anant Bhalla, Executive Chairman of JAB Insurance, commented, “Today marks the beginning of an exciting new chapter for JAB Insurance and Prosperity. Together, we have a unique opportunity to create a global insurance ecosystem, building on the tremendous platform and talent that Prosperity brings to the table, coupled with our permanent capital base and long-term investment horizon. I look forward to building on our respective strengths and delivering value for policyholders.”
“We are pleased to have partnered with Prosperity in its journey as it has grown from $3 billion to nearly $30 billion in assets and emerged as a leading life and annuity player. We wish Prosperity future success under the ownership of JAB Insurance, with its substantial resources and deep commitment to serving policyholders,” stated Mark Cicirelli, Global Head of Insurance for Elliott Investment Management.
JAB Insurance is headquartered in Miami with a presence in New York, while Prosperity will continue to be headquartered in New York with operations in Austin, Texas, Roanoke, Virginia, and Bermuda.