Big Law
MassMutual Acquires Great American Life for $3.5B
Mutual life insurer MassMutual has announced plans to acquire Great American Life Insurance Company from American Financial Group for $3.5 billion.
MassMutual will acquire the annuity business, as well as other subsidiaries and affiliated entities, which primarily offer traditionally fixed and fixed indexed annuity products.
The transaction is expected to close in the second quarter of 2021, subject to regulatory and other necessary approvals.
After closing, Great American Life will operate as an independent subsidiary of MassMutual.
Great American Life is expected to complement MassMutual’s existing annuity business by broadening its product and distribution capabilities.
