Securian Financial Group Inc. has become the latest life insurer to expand its benefits capabilities.
The St. Paul, Minnesota-based company has agreed to acquire Empyrean Benefit Solutions Inc. for a price that was not disclosed.
Empyrean is a Houston-based benefits enrollment and human resources administration company that was founded in 2006. About 400 employers use its systems to administer benefits for 3.6 million plan participants. The company has offices in Minneapolis and in Nashville, Tennessee, as well as in Houston.
Securian — a policyholder-owned mutual holding company — says it ranks third in the United States in terms of group life sales. The company also sells accidental death and dismemberment insurance, accident insurance, critical illness insurance, and hospital indemnity insurance.
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