Agam Capital, a specialist in insurance asset and liability analytics, is advising JAB Insurance, the global life insurance arm of JAB Holding Company, on a purchase agreement to acquire New York-based Columbian Mutual Life Insurance Company and Illinois-based Columbian Life Insurance Company, collectively known as Columbian Financial Group, as part of a proposed Plan of Rehabilitation.
The proposed transaction, which awaits approval from courts overseeing the CFG rehabilitations and relevant regulatory bodies, involves JAB Insurance providing new equity capital. This capital aims to establish a stable and permanent foundation for policyholders of the Columbian Financial Group.
Agam Capital played a pivotal role in representing JAB Insurance during discussions with the Rehabilitator of Columbian Mutual at the New York Liquidation Bureau (NYLB) and the Rehabilitator of Columbian Life at the Illinois Office of the Special Deputy (OSD). These offices are responsible for managing the rehabilitation processes of insolvent insurers in their respective states. The strategic utilization of Agam’s pALM analytical platform and its expertise in insurance transaction structuring was central to this engagement.
Beyond the acquisition advisory, Agam and JAB Insurance have also established a long-term service agreement. Under this agreement, JAB Insurance will leverage Agam’s Asset Liability Management (ALM) analytics and enterprise risk management (ERM) capabilities to support CFG in executing its long-term business strategy.
Chak Raghunathan and Avi Katz, Co-Founders of Agam Capital, expressed satisfaction with the expanding relationship. They noted, “This transaction builds on Agam’s prior track record of working with investors and regulators to craft attractive solutions that maximize long-term benefits and protections for policyholders.”
Agam Partners Alex Lin and Gaurav Rastogi commented on the deal’s significance, stating, “This transaction highlights Agam’s ability to combine cutting-edge analytics and deep actuarial rigor to solve complex insurance challenges and create a framework that secures long-term policyholder protection.”
Agam Capital, founded in 2016, operates the pALM ecosystem, a proprietary analytical platform designed for balance sheet optimization across the insurance industry. The platform incorporates Dynamic Strategic Asset Allocation (DSAA) and Enterprise Risk Management (ERM) infrastructure. Agam maintains a global presence with offices in the USA, Canada, Bermuda, and India. Additionally, Agam ISAC Bermuda holds a Class E insurer license from the Bermuda Monetary Authority (BMA), offering operational, management, and governance services to Bermuda-based reinsurers.
