Pan-American Life Acquires Encova Life Insurance Company

January 3, 2024

Pan-American Life Insurance Company (PALIC) has completed the acquisition and merger of Encova Life Insurance Company. The transaction adds roughly $60 million in revenue, over $500 million in total assets, $35 million in insurance premiums and about 79,000 covered lives to PALIC’s U.S. life insurance business, strengthening its U.S. scale and Mutual Trust Life Solutions division.

Buyers
Pan-American Life Insurance Company
Targets
Encova Life Insurance Company
Sellers
Encova Insurance
Industry
Insurance
Location
Ohio, United States
Transaction Type
Buyout

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