Ibexis Technologies

What Ibexis Technologies does

Ibexis Life & Annuity Insurance Company (the operating entity of Ibexis Technologies) is a US fixed-annuity carrier domiciled in Missouri with corporate headquarters in Lincoln, Nebraska, licensed in 45 states and the District of Columbia. The company issues three core product families—MYGA Plus (multi-year guaranteed annuity), FIA Plus (fixed indexed annuity), and the WealthDefender Series (fixed indexed annuity with bonus variants)—all marketed to individual retirees and pre-retirees seeking principal protection, tax-deferred accumulation, and market-linked upside through index crediting strategies. Product differentiation comes from exclusive proprietary index access: the HSBC AI Global Tactical Index (running on AWS machine learning), the BofA U.S. Strength Fast Convergence Index, BlackRock crypto-linked indices, and Barclays/UBS-developed indices underlying WealthDefender. The carrier holds an AM Best A- (Excellent) financial strength rating with stable outlook and is backed by Investcorp Insurance Solutions, the insurance-focused subsidiary of Investcorp (a global investment manager with $50 billion in assets).

Distribution is conducted through a multi-channel architecture spanning nine named Independent Marketing Organizations (Ash Brokerage, Creative One, DMI, FIG, Gradient, IAMS, Magellan Financial, M&O Marketing, TruChoice), direct licensed agent and broker-dealer relationships, a self-service policyholder portal, and a dedicated agent portal integrated with Insurance Technologies' FireLight electronic application platform. Revenue mechanics are typical of fixed-annuity carriers—spread income on invested premium dollars, surrender charges on early withdrawal, rider fees on optional features, and commissions on bonus options—with annuity contract structures creating multi-year customer stickiness through surrender schedules and 10% free withdrawal provisions. The carrier traces its statutory roots to 1937 as Sunset Life Insurance Company of America, was acquired by Kansas City Life in 1975, purchased in 2021 by an insurance-focused investment platform, and rebranded as Ibexis in 2022 with a renewed exclusive focus on fixed annuities.

Governance combines carrier operating leadership—CEO Nate Gemmiti (former Apollo operating partner who helped launch Athene), CFO Kevin Tapp (former head of insurance investment banking at Truist and BMO), CDO John Hurley (former Global Atlantic and Hartford Annuities), and CIO Todd Fonner (former CIO North America at Blackstone Insurance Solutions)—with Investcorp board representation and external directors including former MetLife CRO Stan Talbi and former XL Capital CFO Jerry de St. Paër, reflecting a private-equity-backed buildout of a fixed-annuity franchise around proprietary index partnerships and scaled IMO distribution.

Name

Ibexis Technologies

Legal name

Ibexis Life & Annuity Insurance Company

Website

https://ibexis.com

Company type

Private

Founded year

1937

Operating status

Operating

Headcount range

11–50 employees

Short description

Ibexis Life & Annuity Insurance Company is a US fixed-annuity carrier licensed in 45 states, offering MYGA, FIA, and WealthDefender products with proprietary index crediting strategies to individual retirees and pre-retirees through a national network of IMOs and independent agents.

Ownership category

akta.pro rank

Product category

Fixed Annuities

NAICS

Insurance Carriers (5241), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311)

akta.pro primary industry

Fixed Annuities (FSAIACAA)

akta.pro secondary industries

Qualified Annuities (Retirement Plan/IRA) (FSAIACAG), Non-Qualified Annuities (After-Tax) (FSAIACAH)

Keywords

• Fixed annuity products
• Multi-year guaranteed annuities
• Fixed indexed annuities
• Retirement income planning
• Annuity policy administration

Headquarters

HQ city

Altrincham

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fixed Annuity Premiums: Ibexis earns revenue through the issuance of fixed annuity products including Multi-Year Guaranteed Annuities (MYGAs), Fixed Indexed Annuities (FIAs), and the WealthDefender series. Policyholders pay premiums or lump sums which accumulate interest at guaranteed or market-linked rates. The company earns spread income on its investment of premium dollars.
2. Annuity Contract Fees: Revenue is generated from various fees associated with annuity contracts including surrender charges for early withdrawals, rider fees for optional features, and administration fees. The company also earns commissions on rider options such as the bonus features in WealthDefender products.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Ibexis Life & Annuity Insurance Company issues and distributes fixed annuity products including Multi-Year Guaranteed Annuities (MYGA Plus), Fixed Indexed Annuities (FIA Plus) with proprietary index crediting options from HSBC, Bank of America, BlackRock, and the S&P 500, and the WealthDefender Series of Fixed Index Annuities featuring Barclays- and UBS-developed indices. The company sells these products through a network of Independent Marketing Organizations and licensed insurance agents and serves policyholders and agents through secure online portals with electronic application processing.

Product overview

Ibexis is a retirement services company offering a portfolio of fixed annuity products centered around three core offerings: MYGA Plus (Multi-Year Guaranteed Annuity) providing guaranteed fixed returns with optional indexed linked exposure; FIA Plus (Fixed Indexed Annuity) offering growth potential through proprietary AI-powered and traditional market indices from partners including HSBC, Bank of America, BlackRock, and S&P 500 while protecting principal; and the WealthDefender Series (Fixed Index Annuity) providing amplified accumulation with proprietary indices from Barclays and UBS, available in Bonus, Bonus Plus, and base variants. All products emphasize principal protection, tax deferral, and retirement income planning.

Differentiator

Problem solved

Functional benefit

Brands

• MYGA Plus™: Multi-Year Guaranteed Annuity product combining daily guaranteed interest crediting method with an Indexed Linked Option for principal protection.
• FIA Plus®
• WealthDefender® Series

Products and services

• MYGA Plus Multi-Year Guaranteed Annuity offering principal protection with competitive fixed interest rates guaranteed for the entire contract term, daily interest crediting, and an optional Indexed Linked Option that allows higher potential returns while maintaining principal protection. Designed for individuals seeking guaranteed fixed returns insulated from market movements.
• FIA Plus Fixed Indexed Annuity providing increased growth potential through crediting strategies based on proprietary indices from Bank of America, HSBC, BlackRock, and the S&P 500, combined with principal protection and tax-deferred income. Designed for individuals seeking market-linked upside potential with downside principal protection.
• WealthDefender Series Fixed Index Annuity series offering amplified accumulation potential with principal protection. Available in WealthDefender Bonus, WealthDefender Bonus Plus, and base WealthDefender variants, featuring proprietary indices from Barclays and UBS. Includes bailout rate provisions and full liquidity waivers for disability, nursing home confinement, and terminal illness care.

Quantifiable outcome

• AM Best A- (Excellent) rating - 4th highest of 13 ratings
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature4 records

Partnerships

15 partnerships are on record, tiered core.

• Ash BrokeragecoreChannel Partner/ Reseller/ DistributorAsh Brokerage is one of nine Independent Marketing Organizations (IMOs) distributing Ibexis fixed annuity products. Ash Brokerage provides access to a network of independent insurance agents and financial advisors.
• Creative OnecoreChannel Partner/ Reseller/ DistributorCreative One is an IMO partner distributing Ibexis annuity products through independent insurance agents and broker-dealers.
• DMI (Direct Marketing International)coreChannel Partner/ Reseller/ DistributorIMO partner for Ibexis fixed annuity distribution.
• Financial Independence Group (FIG)coreChannel Partner/ Reseller/ DistributorIMO partner distributing Ibexis products through independent advisor network.
• GradientcoreChannel Partner/ Reseller/ DistributorIMO partner for Ibexis annuity product distribution.
• Insurance Agency Marketing Services (IAMS)coreChannel Partner/ Reseller/ DistributorIMO partner distributing Ibexis fixed annuity products.
• Magellan FinancialcoreChannel Partner/ Reseller/ DistributorIMO partner for Ibexis annuity product distribution network.
• M&O MarketingcoreChannel Partner/ Reseller/ DistributorIMO partner distributing Ibexis fixed annuity products.
• TruChoicecoreChannel Partner/ Reseller/ DistributorIMO partner for Ibexis annuity product distribution through independent agents.
• HSBC Bank plccoreTechnology or IntegrationIbexis offers the HSBC AI Global Tactical Index (AiGT Index) as a crediting option in its FIA Plus annuity. The index leverages AWS artificial intelligence to analyze and learn from data, automatically adapting its approach as market dynamics change. Ibexis is the exclusive provider of the HSBC AIGT index in fixed indexed annuities. HSBC deducts a 0.50% annual servicing cost.
• Bank of America / BofA SecuritiescoreTechnology or IntegrationIbexis offers the BofA U.S. Strength Fast Convergence Index in its FIA Plus product. This index applies BofA's patented Fast Convergence technology to the Russell 1000 Total Return Index, targeting 12.5% annualized volatility through intraday rebalancing.
• BarclayscoreTechnology or IntegrationIbexis WealthDefender Series offers Barclays-developed indices including uncapped exposure to Nasdaq-100 through the Nasdaq-100 Engle 10% Index (developed with UBS) and broad U.S. equity exposure incorporating commodities, gold, and longer-duration treasuries for dynamic asset allocation.
• UBScoreTechnology or IntegrationUBS developed the Nasdaq-100 Engle 10% Index available in Ibexis WealthDefender products. The index applies UBS volatility control methodology developed with Nobel Laureate Robert F. Engle to the Nasdaq-100 Total Return Index.
• BlackRockcoreTechnology or IntegrationIbexis FIA Plus offers BlackRock crypto-linked index options providing exposure through iShares Bitcoin Trust ETF alongside traditional equity exposure via iShares Core S&P 500 ETF, targeting 12% volatility.
• Insurance Technologies, LLC (FireLight)coreTechnology or IntegrationIbexis implemented FireLight Illustration and e-Application to provide a fully electronic sales experience for advisors. The platform makes the annuity sales process easy, intuitive and connected.

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Corebridge Financial: Major U.S. life and retirement carrier (former AIG life unit) with a large fixed annuity book. Operates much broader product portfolio but competes for the same FIA-allocated advisor dollars as Ibexis.
• Brighthouse Financial: Large publicly traded annuity and life insurer (spun off from MetLife) with a meaningful fixed annuity franchise. Comparable product set but operates at materially larger scale; provides a benchmark for what scaled success looks like in this segment.

Direct peers

• American Equity Investment Life Insurance Company: FIA specialist now owned by Brookfield Reinsurance; long-standing leader in fixed indexed annuities distributed primarily through IMOs and banks. Closest large-scale comp on FIA product franchise.
• EquiTrust Life Insurance Company: Multi-state fixed annuity and life insurance carrier focused on FIA and MYGA products distributed through IMOs. Direct peer on product mix, distribution channel, and middle-market positioning.
• Global Atlantic Financial Group: Major fixed and fixed indexed annuity carrier with strong IMO distribution. Ibexis's Chief Actuary (Alex Rupelli) and CDO (John Hurley) both came from Global Atlantic, signaling direct product and channel comparability.
• Security Benefit Corporation: Fixed and fixed indexed annuity specialist distributing through independent advisors and IMOs. Comparable product shelf (MYGA + FIA), middle-market positioning, and IMO-led GTM make it a close peer.
• Aspida Life Insurance: PE-backed (Sixth Street) annuity and life carrier built around fixed indexed annuities and IMO distribution. Comparable in scale, capital backing, and product philosophy to Ibexis.
• F&G Annuities & Life (Fidelity & Guaranty Life): PE-backed (Blackstone) fixed annuity and life insurer with a rapidly growing FIA franchise. Closely comparable on capital structure (PE-owned), product mix, and growth-stage profile.
• Athene Annuity & Life Company: A leading FIA and fixed annuity specialist owned by Apollo. Ibexis's CEO Nate Gemmiti helped launch and grow Athene at Apollo, and Athene's product structure and IMO distribution model closely mirror Ibexis's.
• North American Company for Life and Health Insurance: Subsidiary of Sammons Financial Group; one of the largest fixed annuity writers in the U.S. with strong IMO relationships. Direct comp on FIA/MYGA product set and IMO distribution strategy; Ibexis VP Sales Michael Dickerson previously led sales there.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ibexis-life-and-annuity-insurance-company

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ibexis Technologies