Aspida
Aspida is a U.S. life insurance and annuity platform underwriting fixed, fixed index, and registered index-linked annuities for individual pre-retirees and retirees, with a Bermuda-based reinsurance arm and in-house modular technology, backed by Ares Management Corporation and holding $19B in assets.
- Company typePrivate
- Founded2020
- HeadquartersDurham, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Aspida does
Aspida is a U.S. life insurance and annuity platform that underwrites and distributes fixed annuities (Multi-Year Guaranteed Annuities), fixed index annuities (FIAs), and registered index-linked annuities (RILAs) to individual pre-retirees and retirees across 49 U.S. states plus the District of Columbia (excluding New York). The company's product suite is organized under three sub-brands: the WealthLock family distributed primarily through WealthVest; the Synergy Choice family distributed through Market Synergy Group; and the Aspida Advisory MYGA distributed through Flourish, DPL Financial Partners, and other RIA channels. Its first RILA, the Aspida DreamPath Annuity, launched in October 2025 with buffer/floor protection, a Performance Lock feature, and Apple Wallet integration.
The platform is built on an in-house, modular technology stack with a unified data architecture, modern APIs, a digital eApplication (eApp 2.0) that reportedly enables $500,000 of contracts to be issued in 10 minutes and commissions to be paid in 48 hours, and a single sign-on client/producer portal. Aspida also operates Aspida Re (Bermuda), a separately regulated life and annuity reinsurance subsidiary offering block reinsurance, flow reinsurance, M&A advisory, and custom capital solutions globally, and Aspida Financial Distributors LLC, a FINRA-member broker-dealer.
The business model is multi-stream: single-premium annuity sales (Fixed, FIA, RILA), reinsurance premium and fee income through Aspida Re, asset management fees routed through Ares Insurance Solutions (the dedicated in-house asset management arm of Ares Management Corporation, which holds approximately $623B AUM), and capital markets/financing facility revenue. Distribution combines producer-direct sales, an in-house broker-dealer, and channel partners (WealthVest, Market Synergy Group, Flourish, DPL, Ebix Annuity Exchange, FireLight). The company is privately held as a subsidiary of Aspida Holdings Ltd. (Bermuda) and is strategically controlled by Ares Management Corporation (NYSE: ARES), which raised more than $3 billion in equity commitments and credit facilities in January 2025 to support Aspida's growth.
Aspida firmographics
Firmographics- Name
- Aspida
- Legal name
- Aspida Life Insurance Company
- Website
- https://aspida.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Aspida is a U.S. life insurance and annuity platform underwriting fixed, fixed index, and registered index-linked annuities for individual pre-retirees and retirees, with a Bermuda-based reinsurance arm and in-house modular technology, backed by Ares Management Corporation and holding $19B in assets.
- Ownership category
- akta.pro rank
Aspida industry classification
Industry- Product category
- Annuity Insurance Products
- NAICS
- Direct Life, Health, and Medical Insurance Carriers (52411), Direct Life Insurance Carriers (524113), Insurance Carriers (5241)
- SIC
- Life Insurance (6311), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Annuity Reinsurance (Immediate, Deferred, VA/GMxB) (FSAOAAAF)
- akta.pro secondary industries
- Life & Health Reinsurance Underwriting, Actuarial & Risk Analytics Services (FSAOAAAI), Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH), Retirement Income Planning & Decumulation Advisory (FSAEABAD), Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)
Keywords
Where Aspida is headquartered
LocationHeadquarters
- HQ city
- Durham
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Aspida business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Annuity premium sales: Single-premium deferred annuities (Fixed, Fixed Index, Registered Index-Linked / RILA) sold through financial professionals and distribution partners, generating premium-based revenue and ongoing contract fees, plus investment spread income on assets under management.
- Reinsurance (Block, Flow, M&A, Custom): Asset-intensive reinsurance solutions provided by Aspida Re to life and annuity insurers worldwide, including block reinsurance, flow reinsurance, M&A-driven capital solutions, and bespoke capital vehicles — generating reinsurance premium and fee income.
- Asset management fees via Ares Insurance Solutions: Ares Insurance Solutions (AIS), Aspida's dedicated in-house asset manager, manages Aspida's public and private assets. Ares has $464B AUM (T. Rowe Price partnership reference). The arrangement yields management and performance-related fees flowing through the investment chain.
- Capital markets / financing facilities: Aspida has closed oversubscribed credit facilities (e.g., $700M credit facilities) and raised over $2.3B in equity commitments from Ares and third parties to support long-term growth.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | Fixed Annuity MYGA: Single Premium Deferred; 2-, 3-, 5-, and 7-year terms |
| One time/ perpetual license | Multi-year contract | Fixed Index Annuity (Synergy Choice / WealthLock): 5-, 7-, or 10-year terms |
| One time/ perpetual license | Multi-year contract | Registered Index-Linked Annuity (Aspida DreamPath): Single Premium Deferred; 1-, 3-, and 6-year terms |
Go-to-market motion3 records
Distribution channels1 record
Marketing channels7 records
Aspida product offering
Product offeringCore offering
Aspida underwrites and distributes retirement income annuity products (Fixed/MYGA, Fixed Index, and Registered Index-Linked Annuities) under the Aspida DreamPath, Synergy Choice, and WealthLock product families, sold primarily through financial professionals and distribution partners. Through Aspida Re in Bermuda, the company also provides asset-intensive life and annuity reinsurance (block, flow, M&A, custom solutions) to global insurers, supported by an in-house technology platform and Ares Insurance Solutions as dedicated asset manager.
Product overview
Aspida is a life insurance and annuity company that operates a single, unified product platform spanning three product families — Registered Index-Linked Annuities (RILAs), Fixed Index Annuities (FIAs), and Multi-Year Guaranteed Annuities (MYGAs) — together with a dedicated reinsurance arm (Aspida Re) and a proprietary in-house technology platform (the Aspida Portal and eApp 2.0). The RILA flagship is the Aspida DreamPathSM Annuity, a 1/3/6-year single-premium deferred index-linked annuity with buffer/floor protection and a Performance Lock. The FIA suite is the Synergy Choice™ family (Max, Bonus, and Income variants, with optional riders) plus the WealthLock® family (Accumulator and Income Builder). The MYGA suite includes the Aspida Advisory MYGA, Synergy Choice™ MYGA, and WealthLock℠ MYGA. All products are underwritten and administered by Aspida Life Insurance Company (Durham, NC) and are sold through in-house technology (Aspida Portal, eApp 2.0), broker-dealer distribution (Aspida Financial Distributors LLC, FINRA member), and external distribution partners (WealthVest, Market Synergy Group, Flourish, DPL Financial Partners, Ebix Annuity Exchange, FireLight). Aspida Re (Bermuda) provides life and annuity reinsurance (Block, Flow, M&A, Custom Solutions) and is backed by Ares Management Corporation through Ares Insurance Solutions (AIS) as dedicated asset manager.
Differentiator
Problem solved
Functional benefit
Brands
- Aspida Re: Bermuda-based life and annuity reinsurance brand and Corporate Solutions platform (block reinsurance, flow reinsurance, M&A, custom solutions), operating at aspidare.bm.
- Aspida Advisory MYGA
- Synergy Choice MYGA
- WealthLock MYGA
- Synergy Choice Max
- Synergy Choice Bonus
- Synergy Choice Income
- WealthLock Accumulator
- WealthLock Income Builder
- Aspida DreamPath Annuity
- The Rhinos
Products and services
- Aspida DreamPathSM Annuity (RILA) Single Premium Deferred Registered Index-Linked Annuity (RILA) issued by Aspida Life Insurance Company in 1-, 3-, and 6-year terms. Growth is tied to selected equity indices (S&P 500, Nasdaq-100, MSCI Emerging Markets, Russell 2000) with buffer or floor protection, point-to-point cap/participation/dual-direction trigger strategies, a Performance Lock feature, and Apple Wallet integration; 6-year surrender charge schedule. For pre-retirees and retirees seeking market-linked growth with downside protection.
- Aspida Advisory MYGA Single Premium Deferred Fixed Multi-Year Guaranteed Annuity (MYGA) available in 2-, 3-, 5-, and 7-year terms, designed to securely grow tax-deferred retirement savings with low risk, direct access to funds, and multiple guaranteed income options. Distributed through advisory and RIA channels. Minimum premium $25,000; maximum $1,000,000; over $2,000,000 with prior approval.
- Synergy Choice MYGA Multi-Year Guaranteed Annuity (MYGA) under the Synergy Choice brand distributed through Market Synergy Group, featuring a flexible withdrawal feature and simple, steady, guaranteed accumulation of retirement savings.
- WealthLock MYGA Multi-Year Guaranteed Annuity (MYGA) under the WealthLock brand providing tax-deferred growth through fixed guaranteed interest with no down-market risk.
- Synergy Choice Max FIA Single Premium Deferred Fixed Index Annuity under the Synergy Choice Max brand, available in 5- and 10-year terms, enabling personalized growth potential through multiple index options including the Goldman Sachs Lexicon Long Short Index and the BlackRock U.S. Equity Bitcoin Balanced Risk 10% Index.
- Synergy Choice Bonus FIA Fixed Index Annuity under the Synergy Choice Bonus brand that offers all the benefits of Synergy Choice Max plus a Premium Bonus at issue.
- Synergy Choice Income FIA 10-year Fixed Index Annuity under the Synergy Choice Income brand with a built-in Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider providing a stream of guaranteed income for life (or for two lives).
- WealthLock Accumulator FIA Single Premium Deferred Fixed Index Annuity under the WealthLock Accumulator brand, offered in 5-, 7-, and 10-year terms, with principal protection and growth tied to an index's performance. Available through Independent Broker-Dealers and Select Financial Institutions.
- WealthLock Income Builder FIA 7- and 10-year Fixed Index Annuity under the WealthLock Income Builder brand that provides guaranteed lifetime income that cannot be outlived, jointly developed with WealthVest for pre-retirees and retirees.
- Aspida Re (Aspida Life Re Ltd., Bermuda) - Life and Annuity Reinsurance Bermuda-based life and annuity reinsurance company offering bespoke asset-intensive reinsurance solutions with proprietary access to Ares' differentiated asset management capabilities. Provides Block Reinsurance, Flow Reinsurance, M&A advisory, and Custom Solutions to global life and annuity clients.
- Corporate Solutions (Block, Flow, M&A, Custom) Collaborative asset-intensive reinsurance and corporate advisory service for life and annuity clients, including Block Reinsurance (divest non-core lines, release capital), Flow Reinsurance (maximize new business profitability), Mergers & Acquisitions (strategic reorientation, value realization), and Custom Solutions (third-party capital vehicles, cross-border structuring).
Quantifiable outcome
- Producer issued $500k of contracts in 10 minutes via the Aspida eApp
- +3 more outcomes
Companies that use Aspida
Customer profileNamed customers2 records
Ideal customer profiles1 record
Aspida technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
AI capability2 records
Feature5 records
Aspida partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core, minor and flagship.
- T. Rowe Price / Oak Hill Advisors (OHA)coreT. Rowe Price, its alternative credit subsidiary Oak Hill Advisors, and Aspida formed a strategic partnership in February 2025 under which T. Rowe and OHA will manage Aspida's public and private assets and explore product development opportunities. T. Rowe manages over $1T in retirement-related assets out of $1.6T total AUM.
- Munich Re MarketscoreAspida announced a new partnership with Munich Re Markets, a global reinsurer for savings and investment products. The partnership introduces an innovative approach to safeguarding the interest linked to indices in the fixed index annuity contracts.
- FlourishminorFlourish, a platform providing RIAs with access to annuities, partners with Aspida to distribute the Aspida Advisory Multi-Year Guaranteed Annuity (MYGA) to RIAs and their clients via the Flourish Annuities platform.
- Market Synergy Group (MSG)coreMarket Synergy Group partners with Aspida to distribute the Synergy Choice suite of fixed index annuities and the Synergy Choice MYGA. The partnership has produced multiple joint index launches including the Goldman Sachs Lexicon Long Short Index (June 2025) and the BlackRock U.S. Equity Bitcoin Balanced Risk 10% Index (April 2026), as well as the Synergy Choice Income lifetime income solution (November 2023).
- DPL Financial PartnersminorDPL Financial Partners distributes the Aspida Advisory MYGA as a commission-free RIA product, including the first ever two-year duration MYGA available through DPL. Aspida Advisory MYGA is available in over 40 states.
- WealthVestcoreWealthVest, a financial services marketing and wholesaling firm, partners with Aspida to distribute the WealthLock product suite of fixed index annuities, now available in over 35 states. Joint products include crediting strategies on the Invesco Peak Index (August 2022), Franklin Factors US Index (August 2022), Lighthouse Index from Janus Henderson and Societe Generale (August 2022), and the WealthLock Income Builder (May 2026).
- Global Bankers Insurance GroupcoreAspida acquired Global Bankers Insurance Group in July 2021 as part of its strategic expansion in the insurance sector.
- F&G Reinsurance Ltd.flagshipAres Management Corporation and Aspida closed the acquisition of F&G Reinsurance Ltd. in December 2020, with the deal originally announced September 30, 2020. The acquisition formed the foundation of Aspida's reinsurance business (Aspida Re).
Scale indicators10 records
Recent moves7 records
Expansion highlights6 records
Aspida competitors and assessment
Company assessmentBroad incumbents
- Corebridge Financial: Large publicly traded life and retirement company offering fixed, fixed index, and variable/RILA annuities through multiple distribution channels. Competes directly with Aspida in the FIA and RILA categories at scale.
- Brighthouse Financial: Major U.S. annuity and life insurer offering Shield, FIA, and RILA products distributed through broker-dealers and RIAs, providing similar decumulation-oriented solutions as Aspida.
- Nationwide Financial: Major U.S. insurance and retirement provider with broad FIA and RILA product suite and well-established bank and advisor distribution; comparable to Aspida in product breadth and target customer.
- Lincoln Financial Group: Diversified life and annuity carrier with strong FIA and RILA offerings and broad advisor distribution — overlapping with Aspida in product categories and channel coverage.
Direct peers
- F&G (Fidelity & Guaranty Life): Annuity and reinsurance issuer that originated the Bermuda platform acquired by Ares to form Aspida Re. Highly comparable product mix (MYGA, FIA, RILA, indexed universal life) and shared cultural DNA through the original F&G Re team.
- Pacific Life: Private mutual insurance group offering fixed, fixed index, and variable/index-linked annuities with strong broker-dealer and institutional distribution; comparable product range and advisor relationships to Aspida.
- Global Atlantic Financial Group: KKR-owned annuity and reinsurance platform offering fixed, FIA, and RILA products with a Bermuda reinsurance presence and dedicated in-house asset management — directly comparable in structure and go-to-market to Aspida.
- Jackson National Life Insurance Company: Top U.S. variable and fixed index annuity carrier with a deep RIA and broker-dealer distribution footprint and strong living-benefit rider franchise — directly overlapping with Aspida's RILA and FIA products.
- Equitable Financial: Retirement-focused life and annuity carrier with structured RILA and FIA products sold through advisor and broker-dealer channels; similar income-decumulation positioning as Aspida's GLWB riders.
- Athene Holding (Apollo Insurance Solutions): Leading fixed and indexed annuity carrier backed by Apollo with a Bermuda reinsurance platform and in-house asset manager. Closest structural analog to Aspida given sponsor-backed insurance + alternative-asset-manager integration.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat7 records
Key risks7 records
Key highlights8 records
Customer concentration
Aspida social profiles
Digital presenceAspida compliance and trust
Trust signalCompliance6 records
Aspida financial estimates
Financial estimateRevenue estimate
Valuation estimate
Aspida leadership team
Management profileNumber of profiles
Profiles2 records
Aspida subsidiaries and ownership
Company hierarchySubsidiaries4 records
Aspida funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Aspida M&A and investment
M&A and investmentM&A2 records
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Aspida
What does Aspida do?
Aspida underwrites and distributes retirement income annuity products (Fixed/MYGA, Fixed Index, and Registered Index-Linked Annuities) under the Aspida DreamPath, Synergy Choice, and WealthLock product families, sold primarily through financial professionals and distribution partners. Through Aspida Re in Bermuda, the company also provides asset-intensive life and annuity reinsurance (block, flow, M&A, custom solutions) to global insurers, supported by an in-house technology platform and Ares Insurance Solutions as dedicated asset manager.
Is Aspida a public or private company?
Aspida is a private company. It is classified as private equity controlled and is currently operating.
When was Aspida founded?
Aspida was founded in 2020. It employs 251 to 500 people.
Where is Aspida based?
Aspida is headquartered in Durham, United States, in the North America region.
How does Aspida make money?
Four revenue lines are on record. Annuity premium sales are the primary driver. The others are reinsurance (Block, Flow, M&A, Custom), asset management fees via Ares Insurance Solutions and capital markets / financing facilities.
Who are Aspida's main competitors?
Broad incumbents on record are Corebridge Financial, Brighthouse Financial, Nationwide Financial and Lincoln Financial Group. Direct peers are F&G (Fidelity & Guaranty Life), Pacific Life, Global Atlantic Financial Group, Jackson National Life Insurance Company, Equitable Financial and Athene Holding (Apollo Insurance Solutions).
Does Aspida have an API?
No public API is recorded for Aspida.
What industry is Aspida in?
Aspida's product category is Annuity Insurance Products. Its primary akta.pro industry code is FSAOAAAF, Annuity Reinsurance (Immediate, Deferred, VA/GMxB), with a secondary code of FSAOAAAI, Life & Health Reinsurance Underwriting, Actuarial & Risk Analytics Services. Its NAICS code is 52411 and its SIC code is 6311.