Pan-American Life Insurance Group and Mutual Trust Financial Group have announced an agreement to combine their mutual insurance holding companies, which is intended to strengthen the combined company’s position as a life, accident and health insurer.
The combined company will continue to operate as a mutual insurance holding company with $1 billion in revenues, $5.5 billion in total assets, 1.5 million covered lives and 1,650 employees; it also will have $1 billion in total capital, enhancing its financial strength, the companies said.
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