M&A Deal Summary

Nassau Financial Group Acquires Foresters Life Insurance and Annuity

On October 17, 2019, Nassau Financial Group acquired insurance company Foresters Life Insurance and Annuity from Foresters Financial

Acquisition Highlights
  • This is Nassau Financial Group’s 3rd transaction in the Insurance sector.
  • This is Nassau Financial Group’s 3rd transaction in the United States.
  • This is Nassau Financial Group’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2019-10-17
Target Foresters Life Insurance and Annuity
Sector Insurance
Buyer(s) Nassau Financial Group
Sellers(s) Foresters Financial
Deal Type Divestiture

Target

Foresters Life Insurance and Annuity

Edison, New Jersey, United States
Foresters Life Insurance and Annuity Co. (FLIAC) is a provider of life insurance and annuity products with 112,000 policyholders throughout the US and $11.9 billion of life insurance in force and $2.5 billion in assets.

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Buyer(S) 1

Buyer

Nassau Financial Group

Hartford, Connecticut, United States
Category Company
Founded 2015
Sector Insurance
DESCRIPTION

Nassau Financial Group is an insurance and reinsurance business focused on acquiring and operating onshore and offshore platforms with long tail liabilities in the life, annuity and long term care sectors. Nassau Financial Group was founded in 2015 and is based in Hartford, Connecticut.

DEAL STATS #
Overall 3 of 4
Sector (Insurance) 3 of 4
Type (Divestiture) 2 of 3
State (New Jersey) 1 of 1
Country (United States) 3 of 4
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-03 Universal American - Traditional Insurance Business

White Plains, New York, United States

Universal American Corp. - Traditional Insurance Business consists of a closed block of insurance products, including approximately 150,000 insurance policies across Medicare supplement, life insurance, long-term care, disability insurance and other specialty health policies.

Buy $31M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-27 Saybrus

Hartford, Connecticut, United States

Saybrus is a life insurance and annuity distribution company that helps institutions and financial professionals address clients' needs with life insurance and annuity solutions for basic protection as well as retirement, estate, and business planning. Saybrus was founded in 2009 and is based in Hartford, Connecticut.

Sell -

Seller(S) 1

SELLER

Foresters Financial

Toronto, Ontario, Canada
Category Company
Founded 1874
Sector Financial Services
DESCRIPTION

Foresters Financial has been providing socially responsible financial services to individuals and families. Foresters Financial includes The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. Foresters is a purpose-driven organization that exists to enrich family and community well-being and offers insurance products to over three million members and clients in Canada, the US and the U.K.

DEAL STATS #
Overall 3 of 3
Sector (Insurance) 1 of 1
Type (Divestiture) 3 of 3
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-09 Foresters Financial - U.S. Brokerage & Investment Advisory Business

Toronto, Ontario, Canada

Foresters Financial - U.S. Brokerage & Investment Advisory Business offers to a substantial portion of the employees of the brokerage and advisory business, who will be expected to continue to play key roles in the growth of the business and support of its advisors.

Sell -
Mergr

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