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Ohio National Closes On First ING Life

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NU Online News Service, Jan. 7, 12:53 p.m. – Ohio National Financial Services Inc., Cincinnati, says it and Security Mutual Life Insurance Company of New York, Binghamton, N.Y., have completed acquiring First ING Life Insurance Company of New York from Security Life of Denver. The value of the deal was not disclosed.

Ohio National says the new name of First ING will be National Security Life and Annuity Company.

National Security should begin selling variable life insurance, fixed annuities and variable annuities through Ohio National and Security Mutual representatives in mid-2002, Ohio National says.

Ohio National says it hopes the National Security alliance will help it make use of its new bank and stock brokerage affiliations.

Ohio National is also acquiring Suffolk Capital Management Inc., New York, an institutional asset manager with $2.8 billion in assets, from Old Mutual P.L.C., London.