Securian Financial Group, St. Paul, Minn., closed its purchase of American Modern Life Insurance Company (and its subsidiary, Southern Pioneer Life Insurance Company, from American Modern Insurance Group, Cincinnati, OH. Securian says the acquisition increases the scale of Securian's credit protection business by 25 percent. Securian will integrate the acquired business into its credit protection operations by June 30. American Modern will provide transition services until integration is complete.
Mutual of Omaha, Omaha, Neb., has inked an alliance with Securities America Inc., La Vista, Neb., to make Mutual's retirement plans available to Securities America's financial professionals nationwide. The relationship is part of Mutual's goal of doubling its retirement plans product distribution and advisor support programs to producers affiliated with broker-dealers across the nation, according to Chuck Lombardo, president and CEO of Retirement Marketing Solutions, Inc., a Mutual of Omaha subsidiary.
Principal Financial Group, Des Moines, Iowa, has unveiled a retirement plan sales alliance relationship with Edward Jones, St. Louis Mo. Effective January 4, 2012, PrincipalFinancial is approved as a preferred retirement plan product provider for Edward Jones' clients. The formal agreement allows Edward Jones' financial advisors to sell defined contribution plans with The Principal.
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