Kansas City Life Insurance Company has agreed to acquire Grange Life Insurance Company from Grange Mutual of Columbus, Ohio.
The base price for the deal is $77.2 million, according to Kansas City Life.
Kansas City Life is a stock company based in 1895. It operates in 49 states and the District of Columbia.
Grange Mutual is a mutual founded in 1935. It operates in states in the Midwest, in the Southeast, and along the Atlantic coast.
Grange Life is a stock company. Kansas City Life would acquire it by acquiring all of its stock.
The deal is subject to review by the Ohio Department of Insurance.
The companies hope to complete the deal by Sept. 30.