Southland National Insurance Corporation to Acquire Colorado Bankers Life Insurance Company
The transaction will combine SNIC's in-force life insurance portfolio with CBL's operations and leading presence in individual life, accident and critical illness products to create a platform with an enhanced ability to deliver insurance protection to policyholders and drive growth. SNIC is the life insurance affiliate of Eli Global, a private firm founded in 1991.
"CBL's talented employees, high-quality products and distribution capabilities will become the cornerstone of our insurance operations," said
"In SNIC and Eli Global, we have found a great organization committed to investing in CBL and focused on meeting the needs of our individual policyholders," said
The transaction is expected to close in the fourth quarter of 2015, subject to customary regulatory approvals. Following the close of the transaction, CBL's operations will maintain the CBL name and continue to be located in
About Eli Global
Eli Global is an international information and financial services group headquartered in
Eli Global's formula for success is simple: we build long-term relationships with our people, our partners, and our customers. We have never sold a business and we have a 30-year plan for each business we operate. We have no outside investors and we are 100% owned by our Chairman and founder and our employees. This long-term privately held focus gives us an ability to develop relationships and invest in new markets and businesses over a period of many years.
About
Southland National Insurance Corporation is a stock insurance company within the Eli Global group of companies with 100% of the stock owned by
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