A Southern insurer has completed previously announced efforts to acquire an insurance business from a giant bank holding company.
Protective Life Corp., Birmingham, Ala., ended up paying about $1.2 billion for the unit, Chase Insurance Group, Elgin, Ill., to the group’s former owner, JPMorgan Chase & Company, New York.
Protective and JPMorgan earlier had set a goal of completing the deal by Sept. 30.