LINCOLN, Neb.--(BUSINESS WIRE)--Ameritas Life Insurance Corp. (Ameritas Life), based in Lincoln, Nebraska, and Security Life Insurance Company of America (Security Life), based in Minnetonka, Minnesota, 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 December 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. Headquartered in Minnetonka, Minn., Security Life has GAAP assets of $132.6 million, 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.”
About Ameritas Life
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; individual disability income 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 ameritas.com.
About Group Division of Ameritas Life
The group division of Ameritas Life Insurance Corp. has served customers since 1959 and today provides dental, vision, and hearing care products and services, insuring or administering benefits for more than six million people nationwide. Ameritas has one of the largest dental networks in the country with more than 360,000 access points. Its contact center has earned BenchmarkPortal’s Center of Excellence certification every year since 2007 and placed in BenchmarkPortal’s Top 100 for small centers in 2014. In New York, dental, vision and hearing care products are offered through Ameritas Life Insurance Corp. of New York. To learn more about Ameritas, visit ameritas.com or ameritasinsight.com.
About Security Life and Security Health
Security Life specializes primarily in the ancillary benefits market, providing dental and vision insurance products and services to consumers and employer groups. In close relationships with its distribution network of general agencies and strategic partners, Security Life is concentrated in individual insurance and small- to mid-size employer group business. Security Life has products available to market in 50 states (in conjunction with Security Heath Insurance Company of America, New York, Inc.). For more information, visit SecurityLife.com.