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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