Gary Cohn (pictured above), former president of Goldman Sachs Group, has joined the board of Zinnia, an insurance technology company majority-owned by Eldridge Industries.
Zinnia, which is led by Michele Trogni, announced in October that it raised $300 million in financing from Vista Credit Partners. The company is valued at approximately $1.75 billion, including debt, according to a person familiar with the matter.
Since leaving Goldman Sachs in 2016, Cohn has held various roles, including serving as director of the US National Economic Council during President Donald Trump’s first administration. He is currently vice chairman of International Business Machines and serves on the boards of privately held companies, including therapeutic-device developer Abryx and secure phone manufacturer Sotera Digital Security.
Zinnia specializes in life and annuity (L&A) insurance solutions. Formerly known as SE2, Zinnia rebranded in 2022. The company offers end-to-end platforms that support the entire lifecycle of insurance policy administration, aiming to simplify processes.
At the core of Zinnia's offerings is a system of record built on smart contracts and digital ledger technology, enabling real-time updates and creating a trusted single source of information across the insurance ecosystem. This infrastructure allows carriers to design and launch new products swiftly, distribute them through multiple channels, and efficiently service policies, thereby driving growth and delivering value at every stage of the L&A lifecycle.
Zinnia has expanded its capabilities through strategic acquisitions. In 2022, the company acquired Breathe Life, a SaaS insurance platform, to enhance its digital distribution solutions. In 2023, Zinnia further broadened its reach by acquiring Policygenius, a leading digital insurance marketplace, laying the foundation for an end-to-end insurance platform.
Zinnia added KKR & Co. as an investor last year through its acquisition of Policygenius. In 2023, the company acquired North American life and annuity insurance assets from Ebix Inc.
