Two Des Moines area insurance companies have signed a letter of intent to merge.
West Des Moines-based Homesteaders Life Co. and American Enterprise Mutual Holding Co. of Des Moines will merge under the plan, with Homesteaders’ seven board members joining American Enterprise’s board.
American Enterprises is the holding company of American Republic Insurance Co. in Des Moines and Omaha, Neb.-based World Insurance Co.
Homesteaders is the nation’s second-largest provider of burial insurance. American Republic is a provider of health savings accounts and Medicare supplement insurance.
American Republic has 548 employees in Des Moines. Homesteaders has 129 workers in the Des Moines area and 33 field employees nationwide.
Information from: The Des Moines Register,
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