Aviva plc, the world's fifth-largest insurance group, based in London, England , and AmerUs Group, Co. a leading U.S. producer of annuity and life insurance products, announced yesterday that they had reached a definitive agreement under terms of which Aviva will acquire AmerUs Group. The transaction still awaits approval by AmerUs Group shareholders and the receipt of government and regulatory approvals, including the expiration of all waiting periods required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
When the transaction is completed at year end, AmerUs Group and Aviva's U.S. operations will be combined and the business will operate under the name of Aviva, headquartered in Des Moines, Iowa. Presently Aviva's US operations are based in the Boston area and includes administrative support for Aviva's US structured settlement operations. As a result of the acquisition it is possible that structured settlement annuity recipients could be serviced out of another location. If this is the case Aviva/or your structured settlement broker will surely provide notification.
Richard Harvey, Group Chief Executive, Aviva plc, was quoted on the Business Wire "AmerUs is a well-managed, innovative and fast-growing business. This acquisition establishes a leadership position within a key segment of the world's largest long-term savings market (2005 #1 in equity-indexed life and #3 in equity-indexed annuities) In a single move the combination of AmerUs' national distribution networks and the resources and expertise of Aviva provides the platform for significant profitable growth in the US."
Thomas C. Godlasky, chairman, president and chief executive officer of AmerUs Group, who will become president and chief executive officer of the new Aviva USA, was quoted on the Business Wire, "This transaction enables both companies to fulfill their complementary business visions faster than either company could separately. For AmerUs Group, it means uniting our capabilities with an organization with global brand recognition and the financial strength of an AA credit rated insurer. Additionally, the combined U.S. operations add further strength to the global marketing presence and diverse distribution systems of Aviva. We look forward to working with Aviva's excellent U.S. team.