Axonic Insurance, a global annuity and insurance platform, has secured $210m in preferred equity, led by LuminArx Capital Management, a global capital solutions provider, with Deutsche Bank also participating. 

Axonic Insurance creates, issues, distributes and administers annuities and related products for both individual and institutional clients globally.  

Established in 2024, the company is a fully owned subsidiary of Axonic Capital, an investment manager that oversees $7bn in assets and focuses on structured credit as well as commercial and residential real estate debt and equity. 

The funding provided by LuminArx and Deutsche Bank will facilitate Axonic Insurance’s ongoing expansion in both retail and institutional distribution sectors.  

Additionally, it will allow the company to expedite its technology advancements and improve its product service offerings. 

Deutsche Bank Securities (DBSI) served as the exclusive structuring and placement agent for this transaction on behalf of Axonic Insurance. 

An affiliate of DBSI took part in the capital raising efforts.  

The initiative was spearheaded by Deutsche Bank’s FIG Structuring & Solutions team, which specialises in designing and arranging customised capital and financing solutions for its worldwide financial institutions group clientele. 

Axonic Insurance CEO Michael Gordon said: “We greatly appreciate LuminArx’s ability to engage rapidly and thoughtfully in support of our growth strategy. Their team understood our priorities from the outset and provided a capital solution tailored to our needs.  

“As we enter this next stage of growth, I am grateful to have such uniquely capable capital partners, LuminArx and Deutsche Bank, who are fully aligned with our vision.” 

LuminArx partner Sanjeev Mordani added: “We are excited to support Axonic Insurance in this next phase of growth as it builds on recent momentum.”  

Deutsche Bank head of FIG Structuring & Solutions Philippe Kremer said: “Axonic Insurance has significantly expanded its footprint in the FA [fixed annuities] and FIA [fixed index annuities] space and achieved impressive growth in a short period of time. The experienced leadership team has managed to differentiate itself through its innovative setup and efficient operations.” 

Latham & Watkins provided legal representation for Axonic Insurance, while Willkie Farr & Gallagher represented Deutsche Bank and LuminArx. Additionally, Debevoise & Plimpton served as legal counsel for LuminArx. 

Earlier this year, Axonic Insurance selected Hexure’s FireLight e-application platform to launch its Waypoint Multi-Year Guaranteed Annuity product.