Problem Addressed: Annuity contracts are sold manually by brokers & investment advisers to retirees on behalf of insurance companies. Retirees buy annuities and pay large commission fees (5-10% commissions) to the brokers & investment advisers, who are hired by insurance companies.
The Product: Gilgal General is building the world first annuity contracts trading exchange marketplace-an electronic trading exchange (like NASDAQ). A trading exchange platform that will unite buyers & sellers of annuity contracts (insurance companies & retirees) in one central trading marketplace. The company is working to make annuity contracts market-traded contracts and eliminate commission fees for retirees.
- Security: SAFE
- Valuation Cap: $9,500,000
- Min. Investment: $250
(Data as of June 2021.)
Gilgal General: WeFunder Campaign Highlights
- $225B annual annuity sales per year. Market that is ripe for technological innovation & disruption.
- 8 US insurance companies have already agreed to be part of the electronic trading exchange platform
- 4 year contract agreement/partnership with ICE - InterContinental Exchange for market data share.
- Buy & sell exchange-traded annuity contracts: NO commissions, NO surrender charges.
- Founder brings 21 years of deep Wall Street trading background at Deutsche Bank, UBS, BofA, RBC.
- Founding team worked together in bond trading at RBC Capital Markets for 5.5 years.
- Big market: $2.13T US annuity contracts outstanding. PLUS $20B in annual US pension annuity sales.
Did I Invest In Gilgal General?
I’m still in the process of writing a full deal report and decide whether or not I will invest in Gilgal General on WeFunder. At Angel Notes, I review 100+ pitches on 10+ platforms every month and send a detailed report every Saturday to subscribers of the Angel Notes newsletter (you can join through the form below). See you soon!