Life & Health Insurance M&A » By The Online Investor Staff, updated Fri., Apr. 19, 10:11 AM
Recent mergers and acquisitions in the Life & Health Insurance M&A category.
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Slide #30. Protective Life Corporation — MONY Life Insurance Company
Acquirer:
Protective Life Corporation (NYSE:PL)
Acquiree:
MONY Life Insurance Company
Details:
Protective Life Corporation announced that its principal subsidiary, Protective Life Insurance Company, has signed an agreement with certain subsidiaries of AXA SAto acquire MONY Life Insurance Company and reinsure certain policies of MONY Life Insurance Company of America. Assuming a closing date of October 1, 2013, the purchase price paid to AXA is estimated to be approximately $1.06 billion, including statutory capital and surplus of approximately $303 million. The total capital investment by Protective is estimated to be approximately $1.09 billion. The transaction will be subject to customary post-closing adjustments. Assuming an October 1, 2013 close, the transaction is expected to contribute $0.10 to $0.15 to Protective's fully diluted earnings per share in 2013, $0.55 to $0.65 per fully diluted share in 2014, and $0.65 to $0.75 per fully diluted share in 2015, net of integration and transition costs.
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