Pan-American Life Insurance Group and Mutual Trust Financial Group Combine Mutual Holding Companies
According to a media release, the merger will strengthen the combined company's position as a premier life, accident and health insurance provider in the
The companies noted that the addition of
"This merger brings together each company's 100-plus year history and culture to create a company with enhanced growth opportunities, diversification and financial strength," said
"The merger of
"We believe this merger allows us to continue growing profitably by establishing a dedicated U.S. individual life business with the enhanced ability to bring value to our customers, distributors, employees and the communities we serve. We will work closely with
Upon completion of the merger, MTL will operate as a subsidiary of
The combined organization will have its global headquarters in
The merger has been approved by the boards of directors of both
The
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