Merit Life Insurance

Merit Life Insurance Co. has a history that stretches back to its founding in Indiana in 1957. For much of its existence, it operated as a traditional life insurance company. The playbook changed in March 2019 when the company was acquired by Steven W. Pasko, a founder of the private equity firm 777 Partners, through Brickell Insurance Holdings LLC. This acquisition marked a strategic pivot for Merit, repositioning it to focus on digital-first retirement solutions. The next significant event in Merit's journey occurred in late 2023 and early 2024. Brickell Insurance Holdings, an affiliate of 777 Partners, first announced an agreement to sell Merit to an unnamed private investor group in September 2023. By January 2025, it was clear this new owner was Knighthead Insurance Group. Following the acquisition, Merit was rebranded to operate under the Knighthead Life name. Knighthead's acquisition was part of its strategic expansion into the U.S. market, backed by a recent $550 million capital raise. The plan was to leverage Merit's technology-focused platform to offer innovative retirement products, starting with a multi-year guaranteed annuity (MYGA). This move aimed to address the growing demand for secure retirement income solutions in the United States. The company, now under the Knighthead Life brand, continues to be led by Knighthead Insurance CEO Edward Massaro and operates from its Charlotte, N.C. headquarters.