Gilgal General is an electronic annuity trading/selling marketplace for retirees, workplace employees and insurers. The company connects retirees and workplace employees to insurers at an electronic annuity trading exchange and a clearing platform that allows insurance companies to issue annuities electronically to annuity buyers. Bycreating an annuity trading exchange and a clearing platform, retirees and workplace employees can now execute zero cost annuities (rather than current 3-8% commission fees/costs). This helps retirees and workplace employees eliminate the current friction that is inhibiting broad market adoption to annuities which is a perfect vehicle to retirement income for future retirees. Permitting the annuity contract to be electronically issued and traded allows contracts to be transacted between annuity buyers and annuity sellers to be transacted in milli-seconds rather weeks curretly. Insurers can now centralized their annuity selling efforts in one centralized trading marketplace and clear transaction electronically. This helps insurers meaningfully reduce their annuity selling costs/efforts by 3-5x than traditional annuity selling channels.The company was founded in November 2019 by Alexander Ampontuah, a former employee of UBS, RBC Capital Markets and Deutsche Bank, and is currently headquartered in New York City.

Gilgal General, Inc.

Org chart

Teams

Similar companies