Ameritas Closes on Deal to Acquire Guardian's 401k Business
LINCOLN, NE, NEW YORK, NY, September 2, 2016 -- Ameritas Life Insurance Corp. (Ameritas®), headquartered in Lincoln, Nebraska, today announced it completed its acquisition of the 401k plan business of The Guardian Insurance & Annuity Company, Inc. (GIAC), a wholly-owned subsidiary of The Guardian Life Insurance Company of America® (Guardian).
With the completion of the acquisition, Ameritas has taken a big step in its commitment to grow and service its retirement plans business. This transaction increases the assets under administration of the retirement plans division to more than $10 billion, representing business owners and their employees across the entire country. With a combined national sales force, a robust technical platform built for growth and a customer service team dedicated to helping employees plan and prepare for a rewarding retirement, Ameritas is poised to continue its core mission of fulfilling life.
"From the beginning of these discussions we viewed this as more of a strategic relationship than an acquisition," said Bret Benham, Ameritas senior vice president, retirement plans. "We're planning a business-as-usual approach and I believe the financial professionals who do business with us, as well as our shared clients, will see little, if any, impact in the servicing of their plans. Both companies bring exceptional talent, skill and value to the retirement plans arena, and ultimately, that benefits our plan sponsors and plan participants."
"Today's announcement marks the beginning of a long-term strategic marketing relationship between Guardian and Ameritas. We look forward to continuing to provide 401k products and services through our agency system and are committed to making this relationship a success," said Mike Cefole, Guardian senior vice president.
The retirement plans division of Ameritas now provides retirement plan investment and administration services to more than 6,000 businesses and public entities nationwide. Retirement plan clients range from the single life sole proprietor to the large corporate, non-profit and governmental employers.
Founded in 1887, Ameritas Life Insurance Corp. and its affiliated companies provide a wide range of insurance and financial services to customers throughout the United States, including life insurance; annuities; group dental, vision, and hearing care insurance; individual disability income insurance; retirement plans; investments and public finance. Securities and investment advisory services offered through affiliate Ameritas Investment Corp., member FINRA/SIPC. For more information, visitwww.ameritas.com.
The Guardian Life Insurance Company of America® (Guardian) is one of the largest mutual life insurers with $7.3 billion in capital and $1.5 billion in operating income (before taxes and dividends to policyholders) in 2015. Founded in 1860, the company has paid dividends to policyholders every year since 1868. Its offerings range from life insurance, disability income insurance, annuities, and investments to dental and vision insurance and employee benefits. The company has approximately 8,000 employees and a network of over 3,000 financial representatives in more than 70 agencies nationwide. For more information, visit Guardian's website: www.GuardianLife.com, Facebook page: https://www.facebook.com/GuardianLife/, and Twitter: @GuardianLife.
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