Merger • Insurance

Prosperity Life Group Acquires NWLGI

On October 9, 2023, Prosperity Life Group acquired insurance company NWLGI for 1.9B USD

Acquisition Context
  • This is Prosperity Life Group’s 3rd transaction in the Insurance sector.
  • This is Prosperity Life Group’s largest (disclosed) transaction.
  • This is Prosperity Life Group’s 3rd transaction in the United States.
  • This is Prosperity Life Group’s 1st transaction in Texas.

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M&A Deal Summary

Date October 9, 2023
Target NWLGI
Sector Insurance
Buyer(s) Prosperity Life Group
Deal Type Merger
Deal Value 1.9B USD
Advisor(s) Goldman Sachs (Financial)
Sidley (Legal)

Target Company

NWLGI

Austin, Texas, United States
National Western Life Group is a provider of insurance services. NWLGI was founded in 1956 and is based in Austin, Texas.
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Buyer Overview 1

Buyer

Prosperity Life Group

Roanoke, Virginia, United States

Category Company
Founded 2009
Sector Insurance
DESCRIPTION

Prosperity Life Group is an insurance organization, which provides financial security to individuals and their families through innovative protection, supplemental insurance and asset accumulation products. Prosperity Life Group was founded in 2009 and is based in Roanoke, Virginia.


Deal Context for Buyer #
Overall 3 of 3
Sector: Insurance 3 of 3
Type: Merger 1 of 1
State: Texas 1 of 1
Country: United States 3 of 3
Year: 2023 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 Shenandoah Life Insurance

Roanoke, Virginia, United States

Shenandoah Life Insurance is an insurance company specializing in providing life insurance, specialty health insurance and annuities to middle-market consumers across the country. Shenandoah Life Insurance was founded in 1914 and based in Roanoke, Virginia,

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