In early July, INN reported Securian Financial Group Inc.’s planned purchase of Balboa Life Insurance Company (BLIC) and Balboa Life Insurance Company of New York (BLICNY) from a subsidiary of Bank of America.

Securian is announcing another acquisition—American Modern Life Insurance Company (AMLIC) and its subsidiary, Southern Pioneer Life Insurance Company (SPLIC), from American Modern Insurance Group. The transaction is expected to close by the end of the year following regulatory approval.

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