Ameritas Life to Acquire Security Life

Nov 4, 2015

  1. Brian Anderson

    Brian Anderson Executive Editor

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    Ameritas Life, based in Lincoln, Neb., and Security Life Insurance Company of America (Security Life), based in Minnetonka, Minn., jointly announced today that Ameritas Life will acquire Security Life and Security Health Insurance Company of America, New York, Inc. (Security Health), effective end of day Dec. 31, 2015, subject to regulatory approval.

    Security Life specializes primarily in the ancillary benefits market, providing dental and vision insurance products and services to consumers and employee groups. Security Life has 105 employees and has an office in Lancaster, Pa. The group division of Ameritas Life will handle existing Security Life dental and vision business, working through Security Life’s general agent distribution network.

    “We’re excited to work with this new distribution,” said Ken VanCleave, Ameritas group division president. “Their agency structure and small group market focus is the perfect complement to our broad dental and vision products and services offering. We’re looking forward to bringing the two together to increase the customer base and financial vitality for everyone involved.”

    “We are excited to be a part of the Ameritas family, as this transaction combines our unique operating capabilities and extensive distribution network with Ameritas’ financial strength, excellent operating performance and vast dental network,” said Mark Zesbaugh, president and chief executive officer of Security Life. “This acquisition not only enhances our current competitive advantages, but significantly improves the opportunity for long-term growth in the dental and vision market.”