Conseco has signed an agreement to acquire from Fortis the Associated California State Insurance Agencies Inc. and its sister company, Ardtel Insurance Service Inc. ACSIA and Conseco have a long-standing relationship in the sale of long-term care insurance. The acquisition should strengthen the businesses of both companies. Currently the third largest long-term care career agency organization in the U.S., ACSIA creates additional distribution strength for Conseco, a leading issuer of long-term care insurance. The acquisition is subject to customary conditions and is expected to close within 60 days. Terms of the transaction were not announced.
Topics Mergers & Acquisitions
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