Beazley Sells Beazley Benefits Business to Globe Life

Transaction Overview

Beazley plc. announced the sale of its U.S. A&H Benefits business (“Beazley Benefits”) to Globe Life

  • The transaction helps Globe Life expand its reach in the worksite market with a proven platform
  • Beazley explored alternatives for the business due to the US employee benefit market being outside its core businesses
  • Beazley Benefits will be re-branded as Globe Life Benefits
    • Terms of the agreement were not disclosed

Beazley Benefits specializes in supplemental health solutions for the employee benefits market

Key products include Supplemental Medical and Group Limited Indemnity

  • Other products include Critical Illness, Short Term Disability and Accidental Death & Dismemberment

Beazley Benefits generated approximately $40 million of premium in 2020

Globe Life (NYSE: GL) is the top issuer of ordinary individual life insurance policies in the U.S.

  • Headquartered in McKinney, TX and has more than 14,000 insurance agents and 3,000 employees
  • Globe Life wrote over $3.8 billion of premium in 2020

TigerRisk Capital Markets & Advisory Role

TCMA served as exclusive financial advisor to Beazley plc.

  • Provided essential financial and structural advice throughout the process
  • Demonstrates TCMA’s ability to deliver tailor-made solutions to complex client situations

Key transaction steps led by TCMA included:

  • Assisted in the development of key marketing materials and presentations
  • Managed a highly competitive process with a strong mix of both carrier and MGA buyers
  • Helped analyze and optimize the ultimate transaction structure
  • Acted as a valuable voice in the negotiation of transaction terms
  • Provided objective advice and acted as a confidant to the seller throughout the process