Western & Southern to make $1.5B acquisition


Western & Southern Financial Group has reached an agreement to purchase another insurance company for $1.55 billion.

The Cincinnati-based insurer will acquire Gerber Life Insurance Co. from parent Nestle S.A. along with a long-term license to use Gerber Life intellectual property in connection with financial services.

The acquisition of Gerber Life is expected to increase Western & Southern’s assets owned and under management to $77.1 billion and increase its ratio of life insurance business…

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