Securian Financial Group, a provider of insurance, debt protection, loan documents and marketing services, has purchased American Modern Life Insurance Co. (AMLIC) and its subsidiary, Southern Pioneer Life Insurance Co. (SPLIC), from American Modern Insurance Group.
Securian says the acquisition increases the scale of its credit protection business by 25 percent. The company will integrate the acquired business into its credit protection operations by June 30. American Modern will provide transition services until integration is complete.
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