Upstream Holdings has acquired Financial Assurance Life Insurance Company. A Louisiana-based insurance holding company, Upstream Holdings, is launching a newly rebranded insurance platform as Upstream Life Insurance Company. The company will provide industry-leading life and annuity products throughout the US.
The acquisition of Financial Assurance, a Texas domiciled life insurance company established in 1912, will allow Upstream Life to operate in 24 states across the US including: Arizona, Arkansas, Colorado, Delaware, Washington DC, Idaho, Illinois, Indiana, Louisiana, Maryland, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, South Dakota, Tennessee, Texas, Utah, West Virginia, Wyoming. The acquisition set a precedent as Colby Arceneaux, Executive Director and Chairman, and Derek Hebert, President and CEO became the youngest known principals leading the acquisition of an NAIC insurance company.
“We are excited to bring our life insurance and annuity products to market through Upstream Life,” stated Hebert. “Over the course of the next year, we are expecting steady growth, including expansion into to approximately 45 jurisdictions across the United States.”
“Upstream Life plans on becoming a leader in the life insurance and annuity market, ultimately continuing the legacy that began in 1912, delivering unique products and services throughout the United States through continued acquisition and de novo expansion,” said Arceneaux.
The group founded Upstream in 2016 and plan to continue the expansion of their holdings, enhancing the legacy of their platform.
About Upstream Life
Upstream Life will offer a variety of annuities, including multi-year guaranteed fixed annuities. These products provide risk-free, guaranteed positive returns, eliminating financial market risks and volatility. Upstream annuities are designed to ensure the client’s financial future and provide income throughout retirement.