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23-08-2018
Reliance Standard Life Insurance Company (Reliance Standard), a member of the Tokio Marine Group, has agreed to acquire a key New York statutory insurer, increasing its share of the New York Disability Benefit Law (DBL) insurance to approximately 10 percent.
The acquisition of Standard Security Life Insurance Company of New York (SSL), a subsidiary of Independence Holding Company, has been agreed subject to customary closing conditions including regulatory approvals.
Founded in 1907, Reliance Standard specialises in absence and employee benefits solutions including financial protection, absence management and supplemental health, with a portfolio of insurance products that includes group disability, life, accident, critical illness, hospital indemnity, dental, vision, medical stop loss and limited benefit medical. Reliance Standard also operates in the fixed annuity market space, including indexed annuities. The group benefits segment wrote approximately $1.39 billion i