MassMutual has made a big bet on the annuities market with a $3.5 billion deal to acquire Great American Life Insurance Co. from its parent, American Financial Group. © Josh Reynolds for The Boston Globe MassMutual CEO Roger Crandall speaks to membership of the Associated Industries of Massachusetts in Waltham […]
Annuity
American Financial Group sells annuity business to MassMutual for $3.5B, 600 jobs affected
American Financial Group announced Wednesday it will sell its annuity business to Massachusetts Mutual Life Insurance Co. for $3.5 billion in cash. Carl Lindner III’s Cincinnati Click to expand UP NEXT In a deal expected to close before June 30, MassMutual will acquire Great American Life Insurance Co. (GALIC) and its two insurance subsidiaries, […]
American Financial to Sell Annuity Business to MassMutual for $3.5 Billion
American Financial Group Inc. AFG 1.31% on Wednesday said it agreed to sell its annuity business to Massachusetts Mutual Life Insurance Co. in a $3.5 billion cash deal. The acquisition will deliver new ways for the giant Springfield, Mass., company, one of the nation’s oldest life insurers, to sell its […]