JAB Insurance and Columbian Mutual Life Insurance Company Announce Signing of Agreement for JAB Insurance to Acquire Columbian Mutual as Centerpiece of Columbian Mutual Plan of Rehabilitation
JAB Insurance announced today that it has signed a purchase agreement to acquire two life insurance companies, New York-based Columbian Mutual Life Insurance Company (“CML” or “Columbian Mutual”) and its Illinois-based subsidiary, Columbian Life Insurance Company (“CLIC” and, collectively with CML, “Columbian Financial Group” or “CFG”), both of which are in rehabilitation. The purchase agreement, which is the centerpiece of a proposed Plan of Rehabilitation of CML, provides for an infusion of new equity capital to secure a stable, permanent home for policyholders and is subject to approval by the courts supervising the CFG rehabilitations as well as regulatory approvals. The transaction has been structured with a focus on policyholder protection, in close collaboration with the Rehabilitator of CML and her staff at the New York Liquidation Bureau (“NYLB”) and the Rehabilitator of CLIC at the Illinois Office of the Special Deputy (“OSD”), both of which manage the rehabilitation of insolvent insurers in their respective states.
JAB Insurance Appoints Life Insurance Veteran as the Next CEO of Prosperity Life Group
JAB Insurance today announced that it has named Michael Ferik as Chief Executive Officer of Prosperity Life Group, effective October 15, 2025. He will succeed Nicholas von Moltke who served as CEO over the past six years and will shift into a role as Senior Advisor to Anant Bhalla, Executive Chairman of JAB Insurance, to support a smooth transition.
JAB Insurance Completes Acquisition of Prosperity Life Group
JAB Insurance today announced that it has completed its acquisition of Prosperity Life Group (“Prosperity”) from Elliott Investment Management. With nearly $30 billion in assets and one million policyholders, Prosperity will become a foundational part of the JAB Insurance business.
JAB Insurance Names Jin Chang as Partner
JAB Insurance today announced that Jin Chang will join the firm in July as a Partner, bringing more than 30 years of insurance experience, most recently as Senior Vice President of Finance at Athene, Apollo Global Management’s U.S. Insurance and Retirement Business. In addition, the firm announced that it has further strengthened its team by adding three new executives and appointing four independent directors with decades of insurance experience to its newly formed Board.
