Southland National Insurance (SNIC) has completed the acquisition of Colorado Bankers Life Insurance (CBL), for an undisclosed sum.
The deal was first announced by both firms in July this year.
CBL will continue to operate as a standalone firm with current management team from its Greenwood Village location, Colorado.
CBL has been providing insurance products to its customers from more than 40 years.
The firm offers individual insurance products, as well as voluntary and supplemental benefit products through payroll deduction programs.
The firm’s products that are provided through payroll deduction programs with US business owners will allow employees to receive convenient and affordable financial protection for themselves and their families.
They also allow employers to offer better insurance choices to their employees without incurring additional cost or obligation to them.
CBL provides its services in 49 US states, excluding New York, as well as in the District of Columbia, Puerto Rico and Guam.
At the time of acquisition, CBL president and CEO Joe Wieser said: "Following the transaction, CBL will have an enhanced ability to grow and support our longstanding distribution partners by delivering convenient and affordable individual life, annuity, accident and critical illness products."
SNIC and CBL are insurance affiliates of the Eli Global, which is an international information and financial services group based in Durham of North Carolina.
Based in North Carolina, Southland National Insurance provides life insurance, annuities and group dental insurance products to its customers in 18 states of the US.
Image: CBL provides individual insurance products, as well as voluntary and supplemental benefit products. Photo: courtesy of Stuart Miles / FreeDigitalPhotos.net.