Equitable Holdings Announces Regulatory Approval for Legacy Variable Annuity Reinsurance Transaction with Venerable

Rhea-AI Summary

Equitable Holdings, Inc. (NYSE: EQH) announced it has received regulatory approvals for its legacy variable annuity reinsurance transaction with Venerable Insurance and Annuity Company. The transaction is expected to close in the second quarter of 2021. Equitable Holdings, founded in 1859, manages approximately $822 billion in assets and has more than 5 million client relationships globally.

Positive

• Received all required regulatory approvals for the reinsurance transaction with Venerable Insurance.
• Transaction expected to close in the second quarter of 2021.

Negative

• None.

Equitable Holdings, Inc. (NYSE: EQH) today announced that it received all required regulatory approvals for its legacy variable annuity reinsurance transaction with Venerable Insurance and Annuity Company.

The Company expects the transaction to close in the second quarter of 2021.

About Equitable Holdings

Equitable Holdings, Inc. (NYSE: EQH) is a financial services holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. Equitable Holdings has approximately 12,000 employees and financial professionals, $822 billion in assets under management (as of 3/31/2021) and more than 5 million client relationships globally.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210511006222/en/

FAQ

What is the latest news about Equitable Holdings (EQH) regarding the Venerable Insurance transaction?

Equitable Holdings announced it has received all necessary regulatory approvals for its reinsurance transaction with Venerable Insurance, expected to close in Q2 2021.

When is the expected closing date for the EQH and Venerable Insurance transaction?

The transaction is expected to close in the second quarter of 2021.

What are the key figures for Equitable Holdings (EQH)?

Equitable Holdings manages approximately $822 billion in assets and has over 5 million client relationships worldwide.