About the Company: A Leading Family-Owned Life Insurer
Investors Heritage (the “Company”) was founded in 1960 by former Kentucky Lieutenant Governor, Harry Lee Waterfield, to provide life and annuity products. Having served Kentucky in public office, Waterfield knew the people of his state like the back of his hand. He built Investors Heritage on a core set of principles—look someone in the eye when you’re talking to them, treat everyone with respect, invest in the future, and your word is your bond—to name a few. Waterfield took pride in the Company’s reputation as a financially sound business that keeps its commitments, employs quality people, and maintains a competitive edge.
Becoming A Part of Aquarian: Taking the Company Private
While Investors Heritage grew steadily and prospered through the decades since its founding, by 2018 it was seeking a strategic partner to help carry its legacy into the future. As Investors Heritage was considering potential investment partners, Aquarian was exploring acquisition possibilities in the insurance industry. Aquarian took notice of the values and business acumen that Waterfield instilled and saw an opportunity to help the company grow and expand. Aquarian realized the potential that already existed in Investors Heritage and planned to use its access to capital and market resources to grow the Company.
In March of 2018, Aquarian acquired Investors Heritage—a then publicly traded company—and took it private. In doing so, Aquarian focused on maintaining Investors Heritage’s rich and growing tradition of providing tools to help people build and manage their legacies. Aquarian retained the management team and employee base and invested in resources to grow the business and serve its customers, all while providing career growth for its employees.
Immediate Results: The Fastest Growing U.S. Insurer
Within a year of the acquisition, Investors Heritage launched a new product, the Heritage Builder Annuity, a single premium deferred, multi-year, rate-guaranteed annuity and appointed more than 800 new agents with new business in 36 states. With that came the highest revenue in the company’s 58-year history, more than doubling its top-line revenue from 2017. S&P Global ranked Investors Heritage as the fastest growing U.S. insurer with a life and annuity focus in 20181 and the sixth fastest-growing U.S. insurer overall.
Fast Forward to Today: Continued Expansion
As Investors Heritage expanded its leadership team, Aquarian prioritized developing and elevating the exceptional talent already in place. Between 2017 and 2020, Investors Heritage grew by nearly 400%. This remarkable growth was acknowledged in both 2019 and 20212, when the company was once again spotlighted as S&P Global’s fastest-growing life and annuity-focused insurer and featured twice on the Inc. 5000 Fastest-Growing Companies list.3
Over the past seven years, Investors Heritage has strategically broadened its product portfolio, launching two Fixed Indexed Annuities (FIAs) and a Multi-Year Guaranteed Annuity (MYGA). It has also strengthened its Independent Marketing Organization (IMO) partnerships and expanded distribution into 47 states. Significant investments have been made in technology and process improvements. Building on an already strong technology platform and a service-driven culture, Aquarian introduced a Lean Six Sigma approach to operations, creating a cutting-edge platform that aligns with client needs and supports scalable, efficient growth. These strategic enhancements have resulted in premium growth of more than 20x since the acquisition. As the firm celebrates its 65th anniversary in 2025, it remains well-positioned for continued success as part of Aquarian Holdings.
“What Investors Heritage has achieved over 65 years is a testament to the team behind the company,” said Rudy Sahay, Founder, Managing Partner, Aquarian Holdings. “Our shared commitment to service, partnership, and dependable innovation drives our growth. We look forward to the next 65 years of providing peace of mind to our customers and their families.”
Investors Heritage (the “Company”) was founded in 1960 by former Kentucky Lieutenant Governor, Harry Lee Waterfield, to provide life and annuity products. Having served Kentucky in public office, Waterfield knew the people of his state like the back of his hand. He built Investors Heritage on a core set of principles—look someone in the eye when you’re talking to them, treat everyone with respect, invest in the future, and your word is your bond—to name a few. Waterfield took pride in the Company’s reputation as a financially sound business that keeps its commitments, employs quality people, and maintains a competitive edge.
Becoming A Part of Aquarian: Taking the Company Private
While Investors Heritage grew steadily and prospered through the decades since its founding, by 2018 it was seeking a strategic partner to help carry its legacy into the future. As Investors Heritage was considering potential investment partners, Aquarian was exploring acquisition possibilities in the insurance industry. Aquarian took notice of the values and business acumen that Waterfield instilled and saw an opportunity to help the company grow and expand. Aquarian realized the potential that already existed in Investors Heritage and planned to use its access to capital and market resources to grow the Company.
In March of 2018, Aquarian acquired Investors Heritage—a then publicly traded company—and took it private. In doing so, Aquarian focused on maintaining Investors Heritage’s rich and growing tradition of providing tools to help people build and manage their legacies. Aquarian retained the management team and employee base and invested in resources to grow the business and serve its customers, all while providing career growth for its employees.
Immediate Results: The Fastest Growing U.S. Insurer
Within a year of the acquisition, Investors Heritage launched a new product, the Heritage Builder Annuity, a single premium deferred, multi-year, rate-guaranteed annuity and appointed more than 800 new agents with new business in 36 states. With that came the highest revenue in the company’s 58-year history, more than doubling its top-line revenue from 2017. S&P Global ranked Investors Heritage as the fastest growing U.S. insurer with a life and annuity focus in 20181 and the sixth fastest-growing U.S. insurer overall.
Fast Forward to Today: Continued Expansion
As Investors Heritage expanded its leadership team, Aquarian prioritized developing and elevating the exceptional talent already in place. Between 2017 and 2020, Investors Heritage grew by nearly 400%. This remarkable growth was acknowledged in both 2019 and 20212, when the company was once again spotlighted as S&P Global’s fastest-growing life and annuity-focused insurer and featured twice on the Inc. 5000 Fastest-Growing Companies list.3
Over the past seven years, Investors Heritage has strategically broadened its product portfolio, launching two Fixed Indexed Annuities (FIAs) and a Multi-Year Guaranteed Annuity (MYGA). It has also strengthened its Independent Marketing Organization (IMO) partnerships and expanded distribution into 47 states. Significant investments have been made in technology and process improvements. Building on an already strong technology platform and a service-driven culture, Aquarian introduced a Lean Six Sigma approach to operations, creating a cutting-edge platform that aligns with client needs and supports scalable, efficient growth. These strategic enhancements have resulted in premium growth of more than 20x since the acquisition. As the firm celebrates its 65th anniversary in 2025, it remains well-positioned for continued success as part of Aquarian Holdings.
“What Investors Heritage has achieved over 65 years is a testament to the team behind the company,” said Rudy Sahay, Founder, Managing Partner, Aquarian Holdings. “Our shared commitment to service, partnership, and dependable innovation drives our growth. We look forward to the next 65 years of providing peace of mind to our customers and their families.”
1 S&P Global awards are based on one-year periods immediately preceding the date listed. Source: S&P Global, “US Life Insurance and Annuity Report” June 9, 2020.
2 Source: https://www.spglobal.com/marketintelligence/en/news-insights/research/us-life-insurance-and-annuity-market-report-rising-rates-provide-a-tailwind
3 Source: https://www.inc.com/inc5000