M&A, Everybody’s doin’ it.
July 6, 2023 by Sheryl J. Moore
M&A.
Everybody’s doin’ it. Click HERE to read Nassau Financial Acquires Delaware Life of New York
The thing that confused me on this deal was that Allison Bell at ThinkAdvisor indicated:
“Nassau could use its newly acquired New York state subsidiary to add a life or annuity product line or to make a product now sold only outside of New York available in the state.”
However, Nassau Financial Group already has a New York arm?
That said, most companies don’t market the same products IN New York, as they do OUTSIDE of NY. This is because New York regulations make products marketed in that state relatively less-competitive than those marketed outside of the Big Apple. In short, if you want to be competitive with your product, you better have a New York subsidiary.
Delaware Life Insurance Company will no longer have a NY presence. NBD since they weren’t actively marketing product through that entity. -sjm
