An update on recent news about Gainbridge Life Insurance Company (Gainbridge Life)
If you’ve seen news about investigations involving Group 1001’s insurance companies, you may be worried about the savings you’ve invested in our annuities. We’re sorry this news has caused you concern. You trust us with money you’ve worked hard for. Here’s what you need to know.
Key Facts About Gainbridge Life:
- Annuity contracts, rates, and benefits all remain unchanged
- AM Best financial strength rating (A-) reaffirmed 7/31/2026, outlook changed to negative
- About 12.4% of Gainbridge Life’s investment portfolio are private credit investments that were reclassified in our financial statement disclosures in June 2026 from “unaffiliated” to “affiliated.” We call these the “Affected Investments.”
- Targeting to reduce Affected Investments to $0 by the end of 2026, subject to regulatory approval
- The reclassification of the Affected Investments in June 2026 did not change Gainbridge Life’s capital or reported earnings
- Questions: (866) 252-9439
Does this affect my Gainbridge Life annuity?
There has been no impact on your account. Your contract terms and your benefits are exactly what they were when you bought your annuity. You still have the same, rate that’s specified in your contract.
What happened?
Gainbridge Life is part of Group 1001, a corporate family that includes insurance companies. Earlier this year, the U.S. Attorney’s Office in the Southern District of New York issued subpoenas to certain Group 1001 insurance companies, which also covered Gainbridge Life. The U.S. Securities and Exchange Commission is also investigating. We can’t comment on the details while the investigations are ongoing.
We conducted own review and found that certain private credit investments we previously classified as unaffiliated were in fact affiliated. We call these investments the “Affected Investments.” After this review, in June 2026, we restated our financial statement disclosures to reclassify the Affected Investments. The reclassification did not change Gainbridge Life’s capital or reported earnings.
In plain terms: Some of our investments were dependent on the performance of parties controlled by or related to our parent companies and ultimate controlling shareholder, and we had reported them incorrectly. We corrected how they’re classified in our financial reports, and they’re now properly identified as affiliated. The fix didn’t change Gainbridge Life’s capital or earnings.
Is my money safe?
Your money is still earning the same rate that it was before. All of your contract terms and benefits remain unchanged. If you’d like to speak with one of our agents, we’re available at: (866) 252-9439
Do I have to do anything?
No action is needed. Your contract continues as written. If you’re thinking about making changes, please call us first at (866) 252-9439.
How big is this for Gainbridge Life?
About 12.4% of our investment portfolio are the Affected Investments that we reclassified in our financial statement disclosures in June 2026 from “unaffiliated” to “affiliated.” We’re working to reduce the Affected Investments to zero by the end of 2026. Some of the agreements that make this possible still need approval from our regulator.
Is Gainbridge Life financially stable?
Gainbridge Life is a licensed insurance company with its own claims paying ability. It’s held to the same capital requirements as every other insurer domiciled in Delaware. AM Best reaffirmed Gainbridge Life’s A- (Excellent) financial strength rating in July 2026, and changed the company’s outlook from Positive to Negative.
Has Gainbridge Life’s ratings changed?
AM Best reaffirmed our A- (Excellent) financial strength rating in July 2026. However, it changed our outlook from Positive to Negative. An outlook is the agency’s view of where a rating could go over the next year or two, and this change is due in part to the reclassification of the Affected Investments. You can read AM Best’s full report [here].
Are affiliated investments allowed?
Investment transactions with affiliates are allowed, but they have to be disclosed as such. In some cases, transactions with affiliates also require prior approval from an insurance company’s domestic state insurance regulator.
What are we doing so this doesn’t happen again?
We’re working on two things. First, we’re working to reduce the Affected Investments to zero. Second, strengthening our controls and investment governance processes, with the help of outside consultants.
What hasn’t changed
Your rate is still locked in for the term you chose. Gainbridge Life is a licensed insurance company with its own claims paying ability, and we’re held to the same capital requirements as every other insurer domiciled in Delaware. And you can always reach a real person who can walk you through your account at (866) 252-9439.
How can I talk to someone about my annuity?
Call (866) 252-9439 to reach a real person who can walk you through your account.
We know trust is earned, and we intend to keep earning yours.