Ameritas Life Closes on Acquisitions of Security Life and Health Companies
April 18, 2016 by Renée Kiriluk-Hill
LINCOLN, Neb. – Ameritas Life Insurance Corp. has closed on its acquisition of the Security Life and Security Health Insurance Cos. of America.
The insurer plans to “maintain the Security Life small group focus while introducing Ameritas’ vast dental, vision, hearing care and LASIK products to this distribution,” said Karen Gustin, group division executive vice president, said in a statement.
“Security Life’s individual dental and vision products will mean even more plan choices in the Ameritas” product portfolio, she said.
Ameritas announced the pending deal in November. It said its group division will handle Security Life dental and vision products and will continue to work with its general agent distribution network.
The group division insures or administers benefits — dental, vision or hearing care — for more than 6.4 million people in the U.S., Ameritas said. Its dental network has more than 413,000 access points, it said, while vision plans include the two largest networks in the country.
Ameritas said Security had $132.6 million in assets and 105 employees at its Minnetonka, Minnesota, headquarters and Lancaster, Pennsylvania, offices. Transaction terms were not released.
Ameritas Life Insurance Corp. and Ameritas life Insurance Corp. of New York currently have a Best’s Financial Strength Rating of A (Excellent).
(By Renée Kiriluk-Hill, associate editor, BestWeek: Renee.Kiriluk-Hill@ambest.com)
