Global Atlantic Financial Group Completes Separation from Goldman Sachs

  Global Atlantic Financial Group Completes Separation from Goldman Sachs

   Leading provider of capital and risk management solutions to the global
                               insurance market

Business Wire

NEW YORK -- May 1, 2013

Global Atlantic Financial Group, a global financial services holding company,
announced today that it has completed its separation from The Goldman Sachs
Group, Inc. (NYSE: GS). After a successful private placement, Global Atlantic
has $1.75 billion of equity and a global shareholder base of over 1,000
investors, including Goldman Sachs. Formerly the Goldman Sachs Reinsurance
Group, Global Atlantic has more than $15 billion in assets and approximately
200 employees with offices in New York, Massachusetts, Bermuda and London.

Global Atlantic operates through two segments: a U.S.-focused life and annuity
reinsurance segment, including the Commonwealth Annuity and Life Insurance
Company, and a global property and casualty reinsurance segment operating in
London and Bermuda under the Ariel Re brand. The management team that has
built and run the business since inception will continue to lead Global

Allan S. Levine, Chairman and CEO of Global Atlantic commented, “We are
pleased to have successfully completed the transaction and believe that our
new structure and diversified investor base position us well to continue to
build our business and serve our clients effectively in a very dynamic market
environment. We are pleased that Goldman Sachs will retain a minority stake
and, along with our other lead investors, be a key partner in the next phase
of our company’s growth.”

Global Atlantic was founded in 2004 at Goldman Sachs and entered the Life and
Annuity market by acquiring Commonwealth Annuity and Life Insurance Company
(formerly Allmerica Financial) in 2005. The business has successfully grown
since then through a series of reinsurance transactions and acquisitions of
U.S. life insurance companies. Today, the Global Atlantic Life business is
recognized for its innovative insurance, reinsurance and strategic solutions
to the life and annuity industry. In 2005, Global Atlantic entered the
Property & Casualty business and has since grown this platform with the launch
of a Lloyds of London insurance syndicate in 2008 and, the acquisition of the
Bermuda-based operations of Ariel Re in 2012. Today the Property & Casualty
business provides a broad range of solutions to clients for losses caused by
natural disasters and other catastrophic events.

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Global Atlantic Investor Relations
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