Kuvare Agrees to Acquire Former Allstate Life Unit

July 30, 2019 by Allison Bell

Kuvare US Holdings Inc. says it’s planning to be a much bigger player in  the U.S. life insurance market.

The Chicago-based life insurance holding company announced today that one of its affiliates, Guaranty Income Life Insurance Company, has agreed to acquire Lincoln Benefit Life Company, and Lincoln Benefit Life affiliates, from RL LP, for a price that was not disclosed.

Completing the deal would increase Kuvare’s life and annuity asset total to about $13 billion, from $3.7 billion in April 2018, according to Kuvare figures.

Kuvare said it expects Guaranty Income Life to close on the deal, which is subject to approval by the Nebraska Department of Insurance, by the end of  the year.

Click HERE to read the full article via ThinkAdvisor.

Originally Posted at ThinkAdvisor on July 25, 2019 by Allison Bell.