Group 1001
 | |
| Company type | Subsidiary |
|---|---|
| Industry | insurance; financial services |
| Founded | 2013 |
| Founder | Dan Towriss |
| Headquarters | 10555 Group 1001 Way, Zionsville, Indiana 46077 |
Key people | Dan Towriss (CEO) |
| Parent | TWG Global |
| Website | Group 1001 Website |
Group 1001 is an American insurance collective and financial services holding company with headquarters in Zionsville, Indiana. It is a subsidiary of TWG Global.[1]
History
[edit]The company was founded in 2013 by Dan Towriss, its current Chief Executive Officer. The company was originally founded as Delaware Life Holdings as an affiliate of Guggenheim Partners. On July 31, 2013, the company acquired Sun Life Insurance and Annuity Co. of New York.[2]
In 2017, Delaware Life Holdings rebranded as Group 1001. Tony Marichal is the company's Vice President of Annuity Operations.[3] The company has approximately $67 Billion assets under management.[4]
In 2019, the company acquired Lackawanna Insurance Group and Community Care Insurance Company of Illinois. Later that year, the company also launched Gainbridge, its technology driven platform that allows for people to invest in an easier manner. In 2020, the company acquired RVI Group. In 2021, Guggenheim Life and Annuity Company was added as part of Group 1001 and, in 2022, was rebranded as Clear Spring Life and Annuity Company.[5] In 2023, the company sold its subsidiary, the Delaware Life Insurance Company of New York, to Nassau Financial Group.[6]
Subsidiaries and affiliates
[edit]- Clear Spring Health[7]
- Clear Spring Life & Annuity Company[8]
- Clear Spring Property & Casualty Group
- Delaware Life Insurance[9]
- Gainbridge
- RVI Group
Ransomware attack class-action lawsuit
[edit]On February 9, 2023, the company sustained a ransomware attack.[10] All of Group 1001's affiliated companies were effected by the attack, except for Gainbridge. The company's operations were restored by March 1, 2023.[11]
As a result of the attack, a class-action suit was filed against the company.[12] A $4,759,470 settlement fund was established to provide for Group 1001 customers who may have had their information stolen as a result of the ransomware attack.[13] The fund would help pay the victims for any lost time or out-of-pocket losses stemming from the attack.[14]
References
[edit]- ^ "Organization Chart of the Registrant, the Depositor and DLIC Holdings, LLC". www.sec.gov. Retrieved February 14, 2025.
- ^ Festa, Elizabeth D. (July 31, 2013). "Guggenheim gets approval on Sun Life deal". Think Advisor. Retrieved June 1, 2025.
- ^ Vela, Amanda (November 7, 2024). "Group 1001 Welcomes Tony Marichal as Vice President of Annuity Operations".
- ^ "Dan Towriss | Delaware life". www.delawarelife.com. Retrieved June 1, 2025.
- ^ "All News". www.group1001.com. Retrieved June 1, 2025.
- ^ Bell, Allison (July 3, 2023). "Nassau Financial Acquires Delaware Life of New York". Think Advisor. Retrieved June 1, 2025.
- ^ "Group 1001". www.group1001.com. Retrieved June 1, 2025.
- ^ "Home | Clear Spring Life". clearspringlife.com. Retrieved June 1, 2025.
- ^ "Group 1001 Insurance Units Resume Full Operations". www.delawarelife.com. Retrieved June 1, 2025.
- ^ "Weigand, et al. v Group 1001 Insurance Holdings, LLC et al". www.group1001settlement.com. Retrieved June 1, 2025.
- ^ "Group 1001 Resumes Full Operations After Ransomware Attack". www.group1001.com. March 1, 2023. Retrieved June 1, 2025.
- ^ "WEIGAND et al v. GROUP 1001 INSURANCE HOLDINGS, LLC et al". Justia Dockets & Filings. Retrieved June 1, 2025.
- ^ Gendron, William C. (July 17, 2024). "Delaware Life Insurance Co. $4.76M Data Breach Settlement". Claim Depot. Retrieved June 1, 2025.
- ^ "Group 1001 Data Breach Settlement: Claim Reimbursement, Cash, and Free Credit Monitoring". Group 1001 Data Breach Settlement: Claim Reimbursement, Cash, and Free Credit Monitoring. Retrieved June 1, 2025.