WEST CHESTER, PA — Venerable Holdings, Inc. has completed the final pieces of a sweeping, multi-part deal with Corebridge Financial, locking in the acquisition of SunAmerica Asset Management, LLC and closing a massive reinsurance transaction tied to The United States Life Insurance Company in the City of New York, cementing one of the largest risk-transfer agreements ever seen in the retirement and insurance industry.
The moves finalize a landmark agreement first announced in June 2025 with Corebridge Financial, Inc., and follow Venerable’s August closing of $48.00 billion in variable annuity reinsurance with American General Life Insurance Company, a Corebridge entity. With all three transactions now complete, Venerable has vaulted into a new league of scale and influence in the retirement risk market.
The acquisition of SunAmerica Asset Management, known as SAAMCo, brings 53 employees into the Venerable organization and establishes a new Houston office, while significantly expanding the company’s presence in New York City at One World Trade Center. The deal also transforms Venerable’s investment management footprint, more than tripling assets under management across its affiliated advisers to approximately $52.00 billion.
On a pro forma basis as of March 31, 2025, Venerable’s total assets under risk management will jump from $67.00 billion to $118.00 billion, underscoring the scale of the expansion and the strategic importance of the Corebridge transactions.
“We are thrilled to welcome our new colleagues from SAAMCo to our Venerable community,” said Tim Brown, President of Venerable Advisers. “Their deep expertise will be invaluable as we continue to grow our investment adviser capabilities and offerings, and I’m confident their talent will help drive our collective success.”
Venerable Chairman and Chief Executive Officer David Marcinek called the closing of all three components a turning point for the company and the broader retirement sector.
“The successful close of all aspects of this landmark agreement marks a pivotal moment for Venerable,” Marcinek said. “By expanding our capabilities as a leading provider of risk transfer solutions we are better positioned than ever to serve our insurance clients and the retirement sector more broadly.”
The transactions were supported by a heavyweight advisory team. Citi and Wells Fargo Securities, LLC served as financial advisors to Venerable, with Milliman, Inc. providing actuarial analysis and Sidley Austin LLP acting as legal counsel.
For Venerable, the Corebridge agreement does more than reshape its balance sheet — it redefines its role in the retirement marketplace, placing the West Chester-based firm at the center of a rapidly evolving global industry where scale, risk management, and investment expertise are becoming inseparable.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.