The Prudential Insurance Company of America, a wholly owned subsidiary of Prudential Financial, has entered into an agreement to acquire MullinTBG Insurance Agency Services.
According to the terms of the agreement, Prudential will acquire MullinTBG. MullinTBG will operate as an additional business unit of Prudential Retirement, a business of Prudential Financial.
Michael Shute, CEO of MullinTBG, said: As a leading financial services company, Prudential will provide even greater strength and resources for MullinTBG to serve clients’ evolving retirement needs. Expanding our retirement solutions with Prudential Retirement creates tremendous synergies between the two firms’ core businesses, without compromising MullinTBG’s unbiased approach and exceptional ability to design, administer and finance customized executive benefit programs.
The transaction is expected to close in the fourth quarter of 2008, subject to customary closing conditions, including regulatory approvals.