Security Benefit Deal Advances

Kansas Insurance Commissioner Sandy Praeger has approved Security Benefit Mutual Holding Company demutualization and dissolution plans.

Security Benefit Mutual, Topeka, Kan., is the parent of Security Benefit Corp., which is, in turn, the parent of Security Benefit Life Insurance Company.

The demutualization plan approval means that Guggenheim Partners L.L.C., Chicago, is one step closer to acquiring Security Benefit Corp. and Security Benefit Life. Guggenheim, an investment group, announced the proposed Security Benefit acquisition in February.