JAB Holding Company is set to establish a global insurance platform and initiate an asset management company, with Anant Bhalla taking the helm as Senior Partner and Chief Investment Officer.
Having already carved a significant presence in the insurance realm, JAB boasts ownership of over 20 pet insurance brands operating across more than 10 countries through Independence Pet Holdings and Pinnacle Pet Group, according to the Coverager.
With a customer base insuring over 5m pets, the conglomerate anticipates surpassing $3bn in global revenues by the end of 2024.
In his new role, Bhalla will spearhead the expansion of JAB’s insurance business on a global scale. Additionally, he will oversee the development of an asset management arm, focusing on insurance balance sheet investments across various thematic sectors, extending beyond the traditional consumer goods and services domain.
Prior to joining JAB, Bhalla made significant strides in the financial sector, serving as President & CEO of American Equity Investment Life Holding Company, where he played a pivotal role in the company’s successful take-private sale to Brookfield Reinsurance.
With an impressive track record spanning over two decades, Bhalla has held esteemed positions at notable Fortune 500 companies such as American International Group, Lincoln National Corporation, and Ameriprise Financial.
The strategic shift towards diversification marks the next chapter in JAB’s evolution as an investment powerhouse.
Peter Harf, Managing Partner, Founder, and Chairman of JAB, expressed confidence in the company’s trajectory, stating, “This is the next phase of JAB’s evolution into a more diversified investment firm. With this milestone, we are ideally positioned to deliver sustainable, long-term shareholder value for generations to come”
Echoing Harf’s sentiment, Joachim Creus, Managing Partner, Vice Chairman, and CEO of JAB, added, “In 2012, Peter set in motion a long-term strategic vision to transform a family office into a leading investment firm in consumer goods and services. Today, JAB manages more than $50bn of assets, including a fast-growing pet insurance business. We will expand on our success in insurance with the build out of a global insurance platform and asset manager led by one of the most successful veterans in the industry. Anant is an incredible talent with a proven track record of creating sustainable value through the convergence of asset management and insurance. We are very fortunate to welcome him to the JAB Partnership.”
Frank Engelen, Managing Partner, and CFO of JAB, commented, “Pet insurance, which sits at the crossroads of consumer products and insurance, was a natural first step into insurance for JAB. As we expand beyond consumer, our priorities include creating a global insurance business and thematic asset management capabilities, significantly diversifying JAB’s investment portfolio for the benefit of our shareholders.”
Anant Bhalla, Senior Partner and Chief Investment Officer, remarked, “The future of insurance is permanent capital. I couldn’t be more excited to join Peter, Joachim, and Frank as they shape the evolution of the JAB ecosystem for future generations, and I am energised by the art of the possible for the insurance marketplace as we tap JAB’s permanent, perpetual capital base.”
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