S. USA Life (Prosperity Life Group) Acquires National Western Life Group for $1.9 Billion

JAB Insurance Acquires Prosperity Life Group from Elliott Investment Management

September 5, 2025

Insurance

JAB Insurance has completed its acquisition of Prosperity Life Group from Elliott Investment Management. Prosperity — which serves roughly one million policyholders and manages nearly $30 billion in assets — will become a foundational part of JAB Insurance as the buyer seeks to build a global life insurance platform and expand its capabilities.

The Canada Life Assurance Company Acquires Value Partners Group Inc.

June 13, 2023

Financial Services

The Canada Life Assurance Company, a subsidiary of Great-West Lifeco, has agreed to acquire Value Partners Group Inc., a Winnipeg-based wealth planning and investment firm. The deal will integrate Value Partners’ investment counsel, investment management and financial planning capabilities into Canada Life’s advisor-focused wealth platform to expand capabilities for independent advisors; the transaction is expected to close by end of 2023 subject to regulatory approvals.

Allstate Acquires National General Holdings

July 7, 2020

Insurance

The Allstate Corporation agreed to acquire National General Holdings Corporation for approximately $4.0 billion in cash (total $34.50 per share including expected closing dividends), a transaction expected to close in early 2021 subject to regulatory approvals. The deal expands Allstate's personal lines premiums by about $4.0 billion, increases market share among independent agent distribution, and is expected to be accretive to adjusted net income per share and ROE in the first year.

Simplicity Group Acquires LifePro Financial Services

July 7, 2022

Financial Services

Simplicity Group has entered into a definitive agreement to acquire LifePro Financial Services, a San Diego-based distributor of life, annuity, long-term care and securities-based insurance products. LifePro's management team, including Heather Ulz and Ben Nevejans, will continue to run the business as partners within Simplicity's distribution platform to accelerate growth and expand service to independent financial professionals.

Southlake Financial Group Acquires Nevada General Insurance Company

January 17, 2025

Financial Services

Southlake Financial Group, a Texas-based insurance technology and data-driven platform, has acquired Nevada General Insurance Company from Western National Mutual Insurance Company. The acquisition expands Southlake's admitted product portfolio and geographic footprint across the Western U.S., adding an AM Best A- rated carrier to its platform.

Hub International Acquires Western Assurance Corp.

March 4, 2022

Insurance

Hub International Limited acquired the assets of Western Assurance Corp., an independent insurance agency based in Albuquerque, New Mexico. The acquisition expands Hub's commercial and personal insurance capabilities (including employee benefits) and strengthens its Specialty practices by adding Western Assurance's experience serving non-profit, construction and transportation clients; the Western Assurance team will join Hub Southwest. Terms were not disclosed; Western Assurance was represented by Mystic Capital.