Global Atlantic Financial Group has announced the expansion of its Bermuda operations with the opening of a new office at Washington House on Church Street in Hamilton.
The new office spans more than 15,000 square feet, tripling the size of Global Atlantic’s previous space. The facility features open-concept work areas, a lounge, and an outdoor patio, intended to support workplace collaboration and operational growth.
Global Atlantic’s Bermuda team has grown steadily, with the company reporting a 30% increase in headcount over the past 18 months. The number of employees on the island has doubled in the last two and a half years, bringing the current total to nearly 60. The Bermuda-based operations now support the majority of the company’s US$190 billion in insurance liabilities.
The company operates nine offices across the US and Bermuda, including locations in New York, Atlanta, Batesville, Boston, Des Moines, Hartford, Indianapolis, Wayne, and Hamilton.
Darryl Herrick (pictured above), managing director and co-head of reinsurance at Global Atlantic, and President of Global Atlantic Re, said the office investment reflects the company’s long-term approach and focus on strengthening its position in Bermuda.
Herrick also noted the importance of the island to the firm’s reinsurance platform and its alignment with the company’s broader goals.
Beyond business growth, Global Atlantic has also expanded its local community engagement. In May 2023, the company launched the Global Atlantic Re foundation, focused on supporting nonprofit efforts in economic development, education, and environmental sustainability throughout Bermuda.
Global Atlantic specializes in retirement, life insurance, and institutional solutions. Founded in 2004 within Goldman Sachs, it became an independent entity in 2013. In 2021, KKR acquired a majority stake, completing full ownership in 2024.
Financially, Global Atlantic reported US$2.4 billion in revenue and US$90 billion in assets under management in 2023. In November 2023, it completed a US$2.7 billion funding round.
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