Posted by (American Life Insurance Guide 2021/02/01 News) Wantong MutualThe life insurance company (Massachusetts) recently announced that it will acquire Great American Life Life Insurance Company and its affiliates for a price of 35 billion U.S. dollars.
The purchase price is 35 billion U.S. dollars and is expected to be completed in the second quarter of 2021. After the completion of the transaction, Great American will becomeWantong Mutual(MassMutual)'s independent subsidiary.
This has also become another major transaction in the integration and reshuffle of the life insurance industry since the new crown virus epidemic in the United States in 2020.
About Great American Life Insurance Company
Great American Life Insurance Company was founded in 1872, with a history of approximately 150 years.The company is U.S.Annuity InsuranceA leader in the market, the company's brand has a large brand reputation and customer base in the Midwestern United States.
Reported on the American Life Insurance Guide2020Q2 Annuity Market Sales RankingIn, Great American Life is inIndex annuity和Fixed income annuityRanked among the top 10 finalists.
After the transaction is completed, Great American’s management team will not change. 600 employees will continue to be at the company’s headquarters in Cincinnati, and the services of original policyholders and insured customers will not be affected.
Vantone Mutual's strategic investment integration
Through this transaction, MassMutual's existing annuity business capabilities have been greatly enhanced with the addition of Great American Life's distribution channels and customer base.Having to consider and integrate the industry MassMutual, the acquisition of good assets has also become a strategic opportunity for giant capital to acquire good assets.
Under the long-term impact of low interest rates and the new crown epidemic, the traditional mode of operation of the entire American life insurance industry may be broken and encounter comprehensive challenges.
In this special period, it is also a rare strategic opportunity for large financial groups to rely on huge capital reserves to acquire excellent assets in the market.
In addition to departmental reorganization and resource reintegration, large financial and insurance groups have also begun to accelerate the diversification of assets.
In December 2020, Vantone Mutual announced that it had invested $12 million in Bitcoin, which has become a lot ofLife insurance company, The first publicly announced investment in Bitcoinlife insurancethe company. (End of full text)
