Aspida
A tech-forward annuity carrier launched in 2020 as the US insurance arm of Ares Management's Aspida platform - carrying an A- (Excellent) rating from AM Best across a nine-product shelf that splits cleanly between Synergy Choice and WealthLock fixed indexed annuities and a four-product MYGA lineup.
Financial strength
A-
AM Best
A-
KBRA
AM Best A- (Excellent)
Aspida Life Insurance Company carries an A- (Excellent) Financial Strength Rating from AM Best - the fourth-highest of thirteen categories - affirmed August 29, 2025 with a stable outlook. KBRA also rates Aspida A-.
Ares-backed
Aspida is the insurance platform of Ares Management Corporation, a global alternative investment manager with more than $400 billion of assets under management (parent figure). Ares Insurance Solutions provides investment management and capital support.
Launched 2020
Launched in 2020 when Ares acquired and rebranded Pavonia Life Insurance Company of Michigan - a young brand built on an established, Michigan-domiciled carrier charter.
$30B group platform
Aspida Holdings - the group spanning the US carrier and Bermuda reinsurer Aspida Life Re - reported roughly $30 billion in total assets as of December 31, 2025 (group figure, not the issuing carrier alone).
Dual FIA + MYGA shelf
Aspida's annuity lineup spans five fixed indexed annuities across the Synergy Choice and WealthLock families plus four MYGAs, including a fee-based Advisory MYGA share class.
Run live numbers on Aspida products
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Income FIAs
Selected product: Synergy Choice Income
An income-focused fixed indexed annuity group for comparing rider-driven lifetime-income scenarios.
Other current products
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Explore Aspida products
Known Aspida product pages, grouped by what each product group is built to do. Confirm current rates and availability in the analyzer or on the product page.
Fixed Index Annuity - Growth
Index-linked annuities built for protected growth, with product pages for checking caps, participation rates, and fixed-account options.
- Growth-oriented FIAs grouped by accumulation purpose
- Individual product pages are the place to check rates, terms, riders, and disclosures
Best for: Buyers comparing principal-protected growth potential before checking a product page for current strategy details.
Synergy Choice Bonus
A premium-bonus accumulation fixed indexed annuity from A- rated Aspida Life, filed in 49 states (every US state except New York and North Carolina) and available in several bonus and surrender-period versions, built around an S&P 500 annual point-to-point cap plus cap and participation alternatives on the Nasdaq-100, Invesco QQQ Growth, and three proprietary indexes, with no lifetime-income rider in the design.
Comparable FIA metric
Cap, participation, and trigger rates vary by state and strategy - view product for live rates.
Synergy Choice Max
An accumulation-focused fixed indexed annuity from A- rated Aspida Life, offered in two chassis (a shorter five-year and a longer ten-year), built around an S&P 500 annual point-to-point cap plus participation-rate alternatives on the S&P 500, Nasdaq-100, and three proprietary indexes, with no lifetime-income rider in the design.
Comparable FIA metric
Cap, participation, and trigger rates vary by state and strategy - view product for live rates.
WealthLock Accumulator
A 10-year-surrender accumulation FIA from an A- rated carrier filed in 49 jurisdictions (all states and DC except New York and North Carolina), built around an S&P 500 cap option plus participation-rate strategies on proprietary volatility-controlled indexes and three sector-ETF caps, with no lifetime-income rider in the design.
Comparable FIA metric
Cap, participation, and trigger rates vary by state and strategy - view product for live rates.
This directory is not a statement of current availability. Confirm current rates, state availability, premium bands, and rider terms in the analyzer or on each product page.
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Find your fit
Start with the job for the money, then open the live Aspida product page that matches that goal.
Company overview
What Aspida is
Aspida Life Insurance Company is a Michigan-domiciled life insurer with operating headquarters in Durham, North Carolina, focused on fixed indexed and multi-year guaranteed annuities for retirement savers. It is licensed in 49 states (excluding New York) and the District of Columbia.
Checked 2026-07-16 · AnnuityRatesHQ carrier research, June 2026; Aspida corporate site
Aspida launched in 2020 when Ares Insurance Solutions - the dedicated insurance arm of global alternative investment manager Ares Management - acquired Pavonia Life Insurance Company of Michigan and rebranded it. Policy guarantees remain the obligation of Aspida Life Insurance Company as the legal issuing carrier.
Launched 2020 · Ares Management announcements; AnnuityRatesHQ carrier research, June 2026
Among Aspida's annuity families are Synergy Choice FIAs (Max & Bonus), WealthLock Accumulator, and Aspida Advisory MYGA.
Verified July 2026 · CANNEX Financial Exchanges via AdvisorWorld
Scale, labeled
Launched
2020
Launched 2020 on the former Pavonia Life of Michigan charter; operating HQ in Durham, NC.
Launched 2020 · AnnuityRatesHQ carrier research, June 2026; Ares Management announcements
Owner
Ares
Indirect subsidiary of Ares Management Corporation via the Aspida Holdings insurance platform.
Checked 2026-07-16 · Ares Management; Aspida corporate site
Group assets
~$30B
Aspida Holdings group total assets (US carrier + Bermuda reinsurer) as of December 31, 2025 - a group figure, not the issuing carrier alone.
As of 2025-12-31 · Aspida corporate reporting
AM Best
A- (Excellent)
A- Financial Strength Rating from AM Best, affirmed August 29, 2025, stable outlook; KBRA also A- (Stable). Aspida Life's issuer-level company-action-level RBC ratio was 398% at year-end 2024 (down from 480% at year-end 2023) - a healthy level whose direction merits monitoring.
Affirmed 2025-08-29 · AM Best; KBRA; Aspida financial-strength materials
History highlights
Ares Management announced its dedicated insurance platform and an agreement to acquire Pavonia Life Insurance Company of Michigan, the charter that would become Aspida.
Announced 2019 · Ares Management announcements
The acquisition closed and the carrier launched as Aspida Life Insurance Company, headquartered in Durham, North Carolina; in 2021 the group acquired Global Bankers Insurance Group's US servicing operation, rebranded Aspida Financial Services.
Launched 2020 · Aspida corporate announcements
The platform grew organically to more than $19 billion in group total assets by September 30, 2024, and roughly $30 billion by December 31, 2025 (group figures); Ares raised over $2.3 billion in equity commitments in January 2025 to support continued growth. AM Best affirmed the A- (Excellent) rating on August 29, 2025.
Checked 2026-07-16 · Aspida corporate reporting; Ares press release; AM Best
Ares Management's insurance platform
Aspida is the insurance and retirement-solutions platform of Ares Management Corporation, a publicly traded global alternative investment manager with more than $400 billion of assets under management (parent figure). Ares announced the platform in 2019 alongside an agreement to acquire Pavonia Life Insurance Company of Michigan.
Announced 2019 · Ares Management announcements
The acquisition closed in 2020 and the carrier was rebranded Aspida Life Insurance Company. In 2021 the group added a US operations and servicing platform (rebranded Aspida Financial Services), and it pairs the US carrier with Aspida Life Re, a Bermuda-based reinsurer, under Aspida Holdings.
Checked 2026-07-16 · Aspida corporate announcements
Ares Insurance Solutions serves as Aspida's dedicated investment manager and capital-solutions partner, connecting the carrier to Ares' credit, real estate, and alternative-investment sourcing (the disclosed portfolio is roughly 93% investment grade, parent/group basis). In January 2025, Ares raised over $2.3 billion of equity commitments to fund Aspida's continued growth. Guarantees are backed by the issuing carrier, with the asset-management relationship supplying scale behind it - not a direct Ares guarantee.
Raised January 2025 · Ares Management press release (2025-01-09)
Financial strength
AM Best
A-
Excellent financial-strength rating - the fourth-highest of thirteen AM Best categories - affirmed with a stable outlook.
Affirmed 2025-08-29
KBRA
A-
Insurance financial strength rating from Kroll Bond Rating Agency, with a stable outlook - consistent with the AM Best grade. KBRA cites solid risk-adjusted capitalization and strategic alignment with Ares; it rates the holding company BBB (group-credit context).
Checked 2026-07-16
What makes Aspida different
Private-capital scale behind a young brand
Aspida launched in 2020, but it sits on an established Michigan charter and inside Ares Management's insurance platform - roughly $30 billion in group assets and a $2.3 billion 2025 equity raise (group and parent figures) give a five-year-old brand institutional depth.
Checked 2026-07-16 · Aspida corporate reporting; Ares press release
A genuinely two-sided shelf
Most carriers this young lead with a single MYGA. Aspida fields five fixed indexed annuities - accumulation, premium-bonus, and income-rider designs across the Synergy Choice and WealthLock families - alongside four declared-rate MYGAs.
Verified July 2026 · CANNEX Financial Exchanges via AdvisorWorld
A fee-based lane for advisory accounts
The Aspida Advisory MYGA is a dedicated advisory (fee-based / RIA-friendly) share class - a distribution posture that reflects Aspida's push into financial institutions and registered investment advisors.
Checked 2026-07-16 · CANNEX Financial Exchanges via AdvisorWorld; AnnuityRatesHQ carrier research, June 2026
Rate-competitive by design
Aspida competes actively on rate and contract design in both the MYGA and FIA categories, with crediting strategies spanning the S&P 500, Nasdaq-100, and proprietary indexes - all caps, participation rates, and terms use current data on each product page.
Verified July 2026 · AnnuityRatesHQ carrier research, June 2026; CANNEX via AdvisorWorld
About Aspida
Aspida Life Insurance Company launched in 2020 when Ares Management's insurance platform acquired and rebranded Pavonia Life Insurance Company of Michigan. Headquartered in Durham, North Carolina, it pairs a technology-forward operating model with Ares Insurance Solutions' investment management.
Checked 2026-07-16 · AnnuityRatesHQ carrier research, June 2026; Ares Management announcements
Aspida carries an A- (Excellent) rating from AM Best (affirmed August 29, 2025) and an A- from KBRA. The broader Aspida Holdings group - including Bermuda reinsurer Aspida Life Re - reported roughly $30 billion in total assets as of December 31, 2025 (group figure).
Checked 2026-07-16 · AM Best; Aspida corporate reporting
Aspida covers both growth and income needs through the Synergy Choice and WealthLock FIA families, alongside advisory and commission-based MYGAs.
Verified July 2026 · CANNEX Financial Exchanges via AdvisorWorld
Free Comparison Report
Get Aspida's current rate report
Compare Aspida's live rates, carrier ratings, and product tradeoffs against alternatives in one personalized report.
Sources
- Aspida corporate site — 2026-07-16
- AM Best - Aspida Life Insurance Company A- (Excellent) affirmation, stable outlook — Affirmed 2025-08-29
- Ares Management - over $2.3B of equity commitments raised to support Aspida's growth — 2025-01-09
- AnnuityRatesHQ carrier research - Aspida launch (2020, ex-Pavonia Life of Michigan), Ares ownership, Durham HQ, group scale — Checked 2026-07-16
- Live product catalog (Synergy Choice Max/Bonus/Income, WealthLock Accumulator/Income Builder FIAs; Advisory, Synergy Choice, WealthLock, WealthLock Plus MYGAs), rates, riders: CANNEX Financial Exchanges via AdvisorWorld — Verified July 2026