July 13, 2016 8:25 pm | Updated 3 years ago.
Ameritas Life Insurance Corp. (Ameritas ), with its headquarters based in Lincoln, Nebraska, declared that it has signed a conclusive accord to acquire the 401(k) plan business of The Guardian Insurance & Annuity Company, Inc. (GIAC), a wholly-owned subsidiary of The Guardian Life Insurance Company of America® (Guardian).
With this procurement, Ameritas is delivering on a key component of the company’s strategy –that is the commitment to grow its retirement plans business. This deal also allows Ameritas to focus on its core mission to provide a more fulfilling life for its clients. The acquisition provides Ameritas the opportunity to augment their business propositions and enter into an exciting new strategic distribution relationship to deepen sales efforts with existing distribution channels.
This transaction reinforces the devotion of Ameritas in helping organizations and their workers to plan and prepare for a more rewarding retirement. At the close of the transaction, the retirement plans division will have assets under its regime in excess of $10 billion.
Date of Publication: June 30, 2016