Companyz Profile
Venerable
Companyz Overview
Website: www.venerable.com
Venerable is a privately held company with business operations based in West Chester, Pennsylvania and Des Moines, Iowa. Venerable owns and manages legacy variable annuity business acquired from other entities. Created by an investor group led by affiliates of Apollo Global Management, LLC, Crestview Partners, Reverence Capital Partners, and Athene Holdings, Ltd., Venerable is a business with well-established, strategic investors, experienced in successfully building and growing insurance businesses with patient, long-term capital.
Growth through acquisition is long storied at Venerable. While we have the nimbleness and flexibility of a start-up, our beginnings are a result of a series of small business ventures by ING Group, who later evolved to Voya Financial, and which began nearly five decades ago. We are led by a highly trusted and experienced team, a significant portion of whom transitioned from Voya at the time of the transaction. With unparalleled knowledge and expertise, the organization remains primed to carry on the tradition of growth.
From day one, leaders at Venerable have prioritized the employee experience by focusing on a strong culture. One where employees feel highly engaged, are encouraged to offer feedback often, are supported by a strong management structure, and can collaborate with colleagues without beaurocratic roadblocks. Opportunity awaits for individuals who think critically, ask why, and seek out creative solutions.
We are committed to dismantling and eliminating systemic racism and invested in ensuring change is constantly evolving. As an organization, Venerable stands by our core values and consistently works to sustain an equitable environment where diverse perspectives and backgrounds are core to ensuring organizational success. Our Equity, Diversity, and Inclusion program is led by colleagues representing every area of our organization. We regularly celebrate each other by sharing personal experiences and strive to help each other understand how continuous learning influences change within and outside of our organization. In addition to action related to education and perspective seeking, we are also focused on training, our investment philosophy, volunteerism, and human resource practices.
A competitive compensation and benefits package differentiates Venerable and shows a priority for investing in our employees holistically. We operate in a hybrid work model, with a blend of in-office and remote work days each week.
Venerable’s compensation program blends base pay with incentive pay and is supported by a progressive performance management process. Medical, dental, vision, life insurance, and accidental death and disability compliment meaningful corporate contributions to a Health Savings Account and 401k along with profit sharing and other miscellaneous benefits.
Companyz History
February 1, 2022
Venerable closes reinsurance transaction with Manulife Financial Corporation.
November 15, 2021
Venerable Holdings, Inc., announces transaction with Manulife Financial Corporation to reinsure approximately US$22 billion of variable annuity business from its U.S. subsidiary John Hancock.
June 1, 2021
Venerable completes acquisition from Equitable Holdings
October 27, 2020
Venerable Holdings, Inc. announces transaction with Equitable Holdings, Inc., including acquisition of Corporate Life Reinsurance Company, and concurrent reinsurance of approximately $12bn of legacy variable annuity business from Equitable Financial Life Insurance Company.
June 25, 2020
Kroll Bond Rating Agency assigns an insurance financial strength rating (IFSR) to Venerable Holdings, Inc.’s primary subsidiary, Venerable Insurance and Annuity Company.
January 13, 2020
Venerable establishes completion of separation efforts from Voya Financials, Inc.
September 1, 2019
Voya Insurance and Annuity Company, the legal entity owned by Venerable, changes its name to Venerable Insurance and Annuity Company.
June 1, 2018
Venerable is debuted, with offices in West Chester, Pennsylvania and Des Moines, Iowa.
Notable Accomplishments / Recognition
February 1, 2022:
Venerable Holdings, Inc. ("Venerable"), the leader in providing innovative risk transfer solutions to variable annuity issuers, is pleased to announce the close of its reinsurance transaction with Manulife Financial Corporation (NYSE: MFC) ("Manulife"). The transaction involves the reinsurance of approximately US$22 billion of variable annuity business from Manulife's U.S. subsidiary John Hancock Life Insurance Company (U.S.A.) ("John Hancock") and, on a pro forma basis as of 3/31/21, increases Venerable's assets under management and reinsurance to approximately $94 billion.
June 1, 2021:
Venerable Holdings, Inc. ("Venerable") today announced the completion of its acquisition of Corporate Solutions Life Reinsurance Company ("CS Life Re"), a Delaware domiciled and New York licensed reinsurance company, from Equitable Holdings, Inc. (NYSE: EQH) ("Equitable Holdings"). With the close of this transaction, Venerable's pro forma assets under management and reinsurance increase to approximately $70 billion.
Benefits
A competitive compensation and benefits package differentiates Venerable and shows a priority for investing in our employees holistically. We operate in a hybrid work model, with a blend of in-office and remote work days each week.