Talcott Financial Group has established West Grove Re, a Bermuda-based reinsurance sidecar formed in partnership with Goldman Sachs.
West Grove Re completed an approximately $1 billion capital raise comprising equity commitments from Talcott, Goldman Sachs Asset & Wealth Management and its clients, along with a credit facility.
The sidecar will participate in a quota share of certain U.S. annuity liabilities sourced by Talcott.
The structure is designed to increase Talcott’s access to capital-efficient reinsurance capacity and support the continued expansion of its insurance and reinsurance platform.
Talcott will provide West Grove Re with actuarial, financial, compliance and risk-management services.
Goldman Sachs Asset & Wealth Management will act as investment manager for private asset strategies. Other third-party managers are expected to oversee the remainder of the sidecar’s portfolio.
West Grove Re also draws on Talcott’s open-architecture asset-management model and partnership with Sixth Street, which acquired the company in 2021.
Talcott managed approximately $134 billion in assets as of March 31, 2026.
Cleary Gottlieb, Kennedys Law and Kirkland & Ellis advised Talcott. Debevoise & Plimpton and Appleby advised Goldman Sachs, while Goldman Sachs Global Banking and Markets served as financial advisor.
KEY QUOTES:
“By pairing our deep insurance expertise with Goldman’s access to client capital and private asset origination franchise, we are enhancing our ability to support the evolving needs of our partners and the broader insurance market.”
Imran Siddiqui, Chief Executive Officer of Talcott Financial Group
“Our private credit business will bring a rigorous credit selection process, access to a deep sourcing and origination funnel through our investment bank, and our expertise in markets and risk management to this partnership.”
Vivek Bantwal, Global Co-Head of Private Credit at Goldman Sachs Alternatives
