Podcast Center
Video Center
Webcasts
Resource Center
Events
January 20, 2006 at 12:29 PM
Genworth Financial Inc. says it has agreed to pay $145 million to acquire Continental Life Insurance Company, a company that sells Medicare supplement insurance.
Genworth, Richmond, Va., says it is making the deal to combine Continental Life’s strong market position and extensive distribution network with its own long term care insurance operations.
“The acquisition of Continental Life is a natural addition for Genworth Financial, given our strategy of serving the fast-growing senior markets with multiple products,” George Zippel, president of Genworth’s insurance division, says in a statement.
Continental Life, Brentwood, Tenn., was founded in 1983. It now has 4,200 agents in its sales network and about $132 million in statutory assets.
