Global Bankers Insurance makes $120 million acquisition

Acquired firm has undertaken transactions in Canada as well as doing business in the US

Global Bankers Insurance makes $120 million acquisition

Insurance News

By Allie Sanchez

Global Bankers Insurance Group has announced its acquisition of Pavonia Holdings for $120 million.

Credit life and disability insurance provider Pavonia and its subsidiaries are being acquired from Enstar Group.

Learn more about finance insurance here.

In a company statement, Global Bankers said the company it is acquiring is licensed to do business in all 50 states and has undertaken transactions in Canada.

Want the latest insurance industry news first? Sign up for our completely free newsletter service now.

“Signing this transaction is yet another significant milestone in the execution of our strategy. Underscoring our commitment to the life and annuity sector, this deal will mark…our largest insurance company acquisition since 2014,” George Luecke, vice chairman and co-chief executive of Global Bankers said in the statement.

The transaction is expected to close this year, subject to regulatory approvals and other customary conditions.


Related stories:
Allianz to launch $3.2 billion share buyback
HUB heads north for latest acquisition
 

Keep up with the latest news and events

Join our mailing list, it’s free!