Market updates and sector developments

Obra Capital, the US-headquartered asset manager focused on insurance special situations, structured credit, asset-based finance and longevity, has acquired life and health insurance business Unified Life Insurance Company. The announcement coincides with the group’s appointment of RiverRock Funds’ ceo Anthony J Annino as senior md and head of longevity.

The Unified deal is intended to expand Obra’s presence into the life insurance markets, add to its longevity footprint and present it with additional investment opportunities in reinsurance and primary issuance. The transaction is part of the group’s ongoing acquisitive growth strategy.

Unified has around 100,000 active policy holders and 49 associated licences, according to a statement issued by Obra. The business has itself historically pursued a buy-and-build expansion strategy in the reinsurance space.

Annino leaves his role as ceo at RiverRock after four years with the business. He previously spent 9 years at Perspecta Trust, leaving his role as chief investment officer in late 2019.