NU Online News Service, Feb. 2, 2004, 4:48 p.m. EST – Security Benefit Group Inc., Topeka, Kan., is acquiring the variable life and variable annuity business of Mutual of Omaha through a reinsurance agreement.[@@]
The price of the deal and other terms were not immediately available.
Mutual of Omaha stopped writing new variable business in 2003. The Omaha, Neb., insurer plans to send Security Benefit a block of 15,668 variable annuity contracts and a block of 9,600 variable life business.
Security Benefit will take over administration of the blocks as well as responsibility for paying claims.