Last updated: April 14, 2026 by the AnnuityJournal Editorial Team.
Global Atlantic Financial Group is one of the largest fixed annuity providers in the United States, wholly owned by private equity firm KKR & Co. since February 2021 and expanded to full ownership in January 2024. Their MYGA rates regularly land in the top five nationally, and their fixed indexed annuity lineup is widely distributed through independent agents. Global Atlantic also operates a large pension risk transfer business, taking over legacy defined-benefit pension obligations from corporate plan sponsors.
The company holds an A (Excellent) AM Best rating and manages more than $170 billion in assets across retail annuities, reinsurance, and institutional products. Their business model is closely parallel to Apollo-owned Athene: both carriers use alternative-credit investment platforms from their private equity parents to generate higher yields, which translate into competitive guaranteed rates for retail annuity buyers.
Key Takeaways
- AM Best A (Excellent) rating, A- from S&P and Fitch
- Owned by KKR & Co., one of the world’s largest alternative investment managers
- $170B+ in assets; alternative-credit strategy similar to Apollo-owned Athene
- Top-5 MYGA rates across 3, 5, 7, and 10-year terms
- Includes the 2021 MetLife retail annuity book acquisition and Forethought Financial subsidiary
- Sold exclusively through licensed independent agents and broker-dealers
Global Atlantic Company History
Global Atlantic was founded in 2004 as a specialty life insurance and annuity business, initially spinning out of Goldman Sachs. It grew steadily through the 2010s and acquired the Forethought Financial annuity business in 2014, which brought Forethought’s flagship FIA and MYGA products into the Global Atlantic lineup. In 2021, KKR acquired a majority stake for approximately $4.7 billion, and by January 2024 KKR had taken full ownership.
Global Atlantic is now KKR’s primary retirement-services platform and is positioned as a direct counterpart to Apollo’s Athene. The insurance subsidiaries that actually issue Global Atlantic annuity contracts include Commonwealth Annuity and Life Insurance Company, First Allmerica Financial Life Insurance Company, and Forethought Life Insurance Company. All are well-capitalized U.S.-domiciled insurers.
In 2022, Global Atlantic completed one of the largest pension risk transfer deals of the year when it took on approximately $8 billion in pension liabilities from MetLife. That followed its earlier acquisition of MetLife’s retail fixed annuity book in 2021. Both transactions significantly scaled Global Atlantic’s retail presence.
Why Global Atlantic Offers Competitive Rates
Like Athene, Global Atlantic’s ability to quote MYGA rates at or near the top of the market comes from its investment platform. KKR invests Global Atlantic’s premium dollars across private credit, structured credit, and direct-lending strategies that historically yield several percentage points above the publicly traded corporate bond portfolios that older mutual insurers rely on.
That excess yield, combined with Global Atlantic’s high-volume distribution and lean expense structure, lets Global Atlantic credit higher guaranteed rates to policyholders. The trade-off is a portfolio more concentrated in alternative credit than traditional insurers, which regulators in New York, Iowa, and Bermuda monitor closely. The A rating reflects AM Best’s assessment that Global Atlantic’s capital and reserves remain sound despite that concentration.
Global Atlantic Annuity Products
Multi-Year Guaranteed Annuities (MYGAs)
ForeAccumulation II is the flagship MYGA, available in 3, 5, 7, and 10-year terms with a single locked rate for the full contract period. Minimum deposit is $10,000. The contract allows 10% annual free withdrawal and has no annual fees. Surrender charges start near 8% in year one and grade down linearly to 0% at contract maturity. Read our MYGA guide for background on how these products work.
SecureFore 5 is a 5-year MYGA with a modestly enhanced first-year rate. It suits buyers who want a competitive 5-year term without the longer commitment of the 7 or 10-year ForeAccumulation II options.
Fixed Indexed Annuities (FIAs)
ForeIncome II is the flagship FIA with an optional guaranteed lifetime withdrawal benefit rider. It credits interest based on annual point-to-point performance of the S&P 500, BNP Paribas Multi-Asset Diversified 5 Index, and other proprietary indices, subject to a cap or participation rate. Full principal protection in negative-index years. See our FIA guide for details on how crediting works.
ForeAccumulation FIA focuses purely on accumulation without income riders, suited for buyers who want market-linked growth potential without the complexity of lifetime income guarantees.
Single Premium Immediate Annuities (SPIAs)
Global Atlantic also issues SPIAs for buyers who want to convert a lump sum into immediate guaranteed income. Payout options include life-only, joint life, and period certain. Competitive at ages 70 and up.
Global Atlantic Rate Comparison by Term (April 2026)
| Product | Term | Typical Rate Range | Free Withdrawal | Min Premium |
|---|---|---|---|---|
| ForeAccumulation II | 3-Year MYGA | 4.95% – 5.20% | 10%/yr | $10,000 |
| ForeAccumulation II | 5-Year MYGA | 5.30% – 5.60% | 10%/yr | $10,000 |
| ForeAccumulation II | 7-Year MYGA | 5.40% – 5.70% | 10%/yr | $10,000 |
| ForeAccumulation II | 10-Year MYGA | 5.25% – 5.50% | 10%/yr | $10,000 |
| ForeIncome II | 10-Year FIA | Up to 9% cap | 10%/yr | $10,000 |
Rates change weekly and vary by state, age, and deposit band. See our 10-year rate table for live comparisons.
Financial Strength & Ratings
| Rating Agency | Rating | Meaning |
|---|---|---|
| AM Best | A (Excellent) | Third-highest of 16 rating levels |
| S&P Global | A- (Strong) | Strong capacity to meet financial commitments |
| Fitch | A- (Strong) | High credit quality |
| Moody’s | A3 (Good) | Low credit risk, upper-medium grade |
Every Global Atlantic contract is also backed by the state guaranty association in the policyholder’s state of residence, typically up to $250,000 per insurer per person.
Global Atlantic Pros and Cons
| Pros | Cons |
|---|---|
| Consistently top-5 MYGA rates nationally | A rating is one notch below Athene’s A+ |
| Backed by KKR’s $550B+ investment platform | Alternative-credit concentration is a disclosure item for some buyers |
| Simple, readable product lineup | Founded 2004, shorter track record than century-old mutuals |
| Competitive FIA caps and participation rates | Not available in all states on every product |
| Full pension risk transfer capability | Some FIAs carry 10-year surrender periods |
Who Is Global Atlantic Best For?
- Rate-focused MYGA buyers: ForeAccumulation II is routinely top 5 on 3, 5, 7, and 10-year terms.
- FIA buyers who want index growth with principal protection: ForeIncome II has competitive caps and index choices.
- Buyers comfortable with A-rated carriers: Global Atlantic’s A is slightly below Athene’s A+, but the rate often makes up the difference.
- Retirees ages 70+ considering income: Global Atlantic SPIAs price competitively against the larger SPIA carriers.
Who Should Not Buy a Global Atlantic Annuity
- Buyers who require A+ or A++ carriers. If the psychological comfort of the top-tier rating matters more than rate, consider MassMutual or New York Life.
- Variable annuity buyers. Global Atlantic does not issue variable annuities.
- Buyers uncomfortable with alternative-credit exposure. Traditional publicly traded bond portfolios are more prominent at older mutual insurers.
How to Buy a Global Atlantic Annuity
Global Atlantic annuities are sold exclusively through licensed independent insurance agents and broker-dealers. There is no direct-to-consumer channel.
- Find an independent agent appointed with Global Atlantic.
- Request a current rate quote for your term, state, and deposit size. Banded rates mean larger deposits often earn higher rates.
- Compare against at least three other A-rated carriers on the same term.
- Complete the application. Fund by wire, check, ACH, 1035 exchange, or IRA rollover.
- Review during the free-look period. Every state gives you 10 to 30 days to cancel without penalty.
Global Atlantic vs Athene
Global Atlantic and Athene are structural twins: both are alternative-credit-backed insurers owned by large private equity firms (KKR and Apollo respectively). Athene is larger, with roughly double Global Atlantic’s assets and a higher AM Best rating (A+ vs A). Global Atlantic trades that rating notch for what is often a slightly higher MYGA rate. The two carriers regularly swap the top-rate spot week to week.
For a full Athene breakdown, see our Athene annuity review.
Frequently Asked Questions
Is Global Atlantic a good annuity company?
Yes. Global Atlantic holds an A (Excellent) rating from AM Best and is owned by KKR, one of the world’s largest private equity firms. The company manages over $170 billion in assets and is among the top 10 fixed annuity sellers in the U.S. by volume.
Who owns Global Atlantic?
KKR & Co. acquired a majority stake in Global Atlantic in February 2021 and completed full ownership in January 2024. KKR manages over $550 billion in alternative assets globally.
What is Global Atlantic’s AM Best rating?
Global Atlantic Financial Group holds an A (Excellent) rating from AM Best, the third-highest of sixteen rating levels. It also carries A- from S&P and Fitch and A3 from Moody’s.
What types of annuities does Global Atlantic offer?
Global Atlantic offers MYGAs (ForeAccumulation II, SecureFore 5), fixed indexed annuities (ForeIncome II, ForeAccumulation FIA), and single premium immediate annuities. Global Atlantic does not offer variable annuities or RILAs.
Can I buy Global Atlantic annuities directly?
No. Global Atlantic products are distributed exclusively through licensed independent insurance agents and broker-dealers. You cannot purchase directly from Global Atlantic.
How does Global Atlantic compare to Athene?
Both are alternative-credit-backed carriers with similar business models. Athene is owned by Apollo and is larger with an A+ AM Best rating. Global Atlantic is owned by KKR with an A rating. Global Atlantic often quotes slightly higher MYGA rates to offset the rating difference. See our Athene review for a side-by-side comparison.
Are Global Atlantic annuities safe?
Global Atlantic annuities carry the same guarantees as any fixed annuity issued by an A-rated U.S. insurer. Principal is protected by Global Atlantic’s claims-paying ability, regulatory capital reserves, and the policyholder’s state guaranty association up to coverage limits.
What is Forethought Financial?
Forethought Financial was an annuity company Global Atlantic acquired in 2014. Forethought Life Insurance Company still issues some Global Atlantic annuity contracts. The Forethought brand itself has been largely retired, but the subsidiary remains a legal entity under the Global Atlantic umbrella.
