Kansas City Life Insurance Co. reached an agreement to acquire Grange Life Insurance Co. from Grange Mutual Casualty Co. in a deal expected to be worth about $77.2 million.
The deal, which requires approval from the Ohio Department of Insurance, is expected to close at the end of the third quarter.
The acquisition gives Kansas City Life the potential to increase its annual target life premium by more than 50 percent, according to a Kansas City Life spokesman. The Kansas City-based insurance company…
Kansas City Life Insurance Co. reached an agreement to acquire Grange Life Insurance Co. from Grange Mutual Casualty Co. in a deal expected to be worth about $77.2 million.
The deal, which requires approval from the Ohio Department of Insurance, is expected to close at the end of the third quarter.
The acquisition gives Kansas City Life the potential to increase its annual target life premium by more than 50 percent, according to a Kansas City Life spokesman. The Kansas City-based insurance company…