NU Online News Service, Nov. 18, 2004, 12:08 p.m. EST
Jackson National Life Insurance Company, Lansing, Mich., has agreed to buy Life Insurance Company of Georgia for $254 million.[@@]
The seller is ING Groep N.V., Amsterdam, which acquired Life of Georgia in 1979.
Life of Georgia, Atlanta, was founded in 1891 and now specializes in selling life insurance and other products to middle-income consumers through a network of 380 producers in Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia.
What Your Peers Are Reading
ING signaled that Life of Georgia might be expendable earlier this year, when it left the company out of a move to merge several other major U.S. life subsidiaries.