Ameritas Life Enters Agreement to Acquire Texas Company
Lincoln, Neb.//November 11, 2011//Ameritas Life Insurance Corp. (Ameritas Life) of Lincoln, Neb., announced today it has entered into an agreement in principle to acquire BNL Financial Corporation (BNL), the parent company of Brokers National Life Assurance Company (Brokers National), an Austin, Texas-based insurance company domiciled in Arkansas.
Following completion of the transaction, BNL will operate as a separate subsidiary of Ameritas Life and all current business operations at Brokers National will remain the same. In addition to its own insurance products, Brokers National also will offer to its brokers group dental, vision and hearing care products through Ameritas Group, a division of Ameritas Life.
Subject to execution of the terms of the agreement and approvals by BNL shareholders and insurance regulators, the transaction is expected to be completed by December 31, 2011. Brokers National currently collects approximately $39.0 million of group premium annually.
Ameritas Life Insurance Corp. and its affiliated companies provide a wide range of insurance and financial services to customers throughout the United States, including life insurance; annuities; group dental, vision and hearing care insurance; retirement plans; investments and public finance. Securities and investment advisory services offered through affiliate Ameritas Investment Corp. Member FINRA/SIPC. For more information, visit the web site at ameritas.com.
-30-For more information, contact:
Vice President, Corporate Communications