Aflac enters agreement to acquire Zurich North America's group benefits business

Aflac | March 20, 2020

Aflac enters agreement to acquire Zurich North America's group benefits business
Aflac has announced that its insurance subsidiaries – American Family Life Assurance Company of Columbus (Aflac of Columbus) and American Family Life Assurance Company of New York (Aflac of New York) – have entered into a definitive agreement to acquire Zurich North America’s US corporate life and pensions (group benefits) business. The transaction is expected to close in the second half of 2020, subject to regulatory approvals and customary closing conditions. A release said that following the transaction, Aflac of Columbus and Aflac of New York will reinsure on an indemnity basis Zurich North America’s US in-force group life and disability policies. These policies have annualized earned premium of about $115 million. Zurich North America employees of the group benefits business will also transfer to Aflac.

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Spotlight

Are you in the market for life insurance? Have you ever asked yourself “How much life insurance do I need?” If you answered yes to both of these questions, then this super simple infographic is just for you. Let’s face it, the whole concept of life insurance can be overwhelming. It’s tough to figure out if you’re trying doing it yourself and it can be even tougher to know whether or not you’re just being sold something if you’re working with an insurance agent – don’t even get me started.

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