Global Atlantic Financial Group Expands Hartford, Connecticut, Operations
The company will lease an additional 11,500-square-feet of office space to support approximately 100 new employees. Global Atlantic will now occupy the entire 10th and 24th floors of The Gold Building at One Financial Plaza in downtown.
“The expansion of our presence in Hartford, one of the premier insurance markets in the United States, is a testament to Global Atlantic’s growth and position within the insurance industry,” Dan O’Shea, chief administrative officer for Global Atlantic, said. “We are proud to continue expanding in a state with such a diverse talent pool and vibrant community and appreciate the support of the Connecticut Department of Economic and Community Development.”
As an incentive the Connecticut Department of Economic and Community Development is supporting the expansion by providing up to $695,640 in grants in arrears that are contingent on the company creating and retaining 100 full-time jobs over seven years.
“Global Atlantic is a valued member of our business community, and it is great to see them expanding their physical footprint and continuing to add jobs in our capital city,” noted Alexandra Daum, commissioner designate of DECD, and Peter Denious, CEO of AdvanceCT. “Connecticut’s insurance industry is recognized around the world for its talented workforce, leading companies, and commitment to innovation. Announcements like this one reinforce our competitive strengths in this sector and the fact that Connecticut is home to the largest insurance industry cluster in North America.”
Global Atlantic Financial Group is a leader in the U.S. life insurance and annuity industry, serving the needs of individuals and institutions. The company is a majority-owned subsidiary of KKR, a leading global investment firm that offers alternative asset management across multiple strategies and capital markets solutions. KKR’s parent company is KKR & Co. Inc.
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