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By 
June 25, 2020 at 12:43 AM
One of the oldest midsize life insurers in the United States is buying a smaller life insurer.
Manhattan Life Group Inc. announced earlier this week that it is acquiring Standard Life and Casualty Insurance Company.
(Related: Smaller Life Insurers Continue Fight for Consumer Mindshare)
Manhattan Life Group, which now operates under the ManhattanLife brand, is a Houston-based holding company that owns the Manhattan Life Insurance Company and several other life insurers.
Manhattan Life was founded in 1850.
The ManhattanLife organization as a whole has about $2.5 billion in assets. Its companies write products such as individual life insurance, Medicare supplement insurance, individual annuities and voluntary dental insurance.
Standard Life is a Salt Lake City-based life insurer that was founded in 1946 and is now licensed in 29 states. It sells products such as final expense arrangements, home health care plans, short-term medical insurance, and critical illness insurance through independent brokers and independent marketing organizations.
