Houston, TX, April 2, 2013 – The Manhattan Insurance Group of companies is pleased to announce that one of its operating companies, Central United Life Insurance Company, has acquired Western United Life Assurance Company (WULA). The acquisition gives the privately held Houston based insurance company and a leading provider of Life, Accident, Cancer and Limited Benefit health insurance, access to the short- to mid-term annuity market.
“From our first meeting with the WULA sales management team and employees, we were extremely impressed with their insurance operation and consistent annuity production,” President Dan George said. “WULA has been somewhat restrained from growth over the past several years and this acquisition will allow it to increase its presence beyond the 16 states it currently markets in and expand into the central and eastern part of the United States. We are excited to be in the annuity space and we look forward to expanding and establishing a stronger presence in the market.”
WULA is a Washington-based company that has been providing services for over 45 years. WULA has a large network of independent producers in the western United States. “This milestone acquisition is an ideal strategic fit for both companies,” WULA President Dale Whitney said. “The Manhattan Insurance Group has built an impressive portfolio of insurance companies and WULA fits perfectly into its product diversification and growth objectives. Additionally, the companies share a mutual mission: to provide a quality portfolio of products and personal customer service.”
Annuity operations will remain in Spokane, Washington with a regional sales office in Vancouver, Washington.
The Manhattan Insurance Group of companies are comprised of Manhattan Life Insurance Company, Central United Life Insurance Company, Investors Consolidated Insurance Company and Family Life Insurance Company. Collectively, the companies have an AM Best rating of B+ (Good).
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