Countrywide Western Daily life Group has introduced that its wholly owned subsidiary, National Western Lifestyle Insurance plan Business (NWLIC), has entered an agreement to acquire Ozark Nationwide Life Coverage and N.I.S. Economical Services.
The transaction is expected to near in the course of the 1st quarter of 2019, subject to regulatory approval and customary closing situations, a launch mentioned.
“The acquisition of Ozark Nationwide signifies an additional positive action in direction of obtaining Nationwide Western’s strategic growth options to develop its lifestyle insurance income,” explained Nationwide Western Lifetime Group chairman, president and CEO Ross R. Moody.
“We are fired up to welcome Ozark Nationwide into the National Western household,” NWLIC president and main running officer Kitty Kennedy Nelson said. “We believe this acquisition will enhance and bolster Nationwide Western by improving lifetime premium through Ozark National’s ground breaking lifestyle solutions and devoted agent drive.”
Both Ozark Nationwide and N.I.S. are dependent in Kansas Town, MO. The providers are wholly owned subsidiaries of CNS Company. Ozark Nationwide, started in 1964, does business in 30 states and has lifestyle insurance policies in-pressure of about $6 billion. N.I.S. is an affiliated broker-seller of Ozark National.
Beneath the terms of the Stock Acquire Settlement, NWLIC will shell out CNS Corporation cash in an mixture sum of approximately $203 million, matter to specified changes. The payment will be built in exchange for all of the superb stock of Ozark National and N.I.S. Economical Solutions.
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