Grange Sells Life Insurance Unit to Kansas City Life

Kansas City Life Insurance and Grange Mutual announced that Kansas City Life will acquire all of the issued and outstanding stock of Grange Life Insurance Company from Grange Mutual. The transaction is subject to review by the Ohio Department of Insurance.

“Life insurance is our lifeblood and we have a strategic vision in place . This acquisition allows us to continue to grow to scale and to do what we do best – provide Security Assured to our policyholders” – President, CEO and Chairman of the Board of Kansas City Life, R. Philip Bixby.

Kansas City Life announced that Walter E. Bixby, EVP and Vice Chairman of the Board of Kansas City Life, will lead the integration efforts, overseeing an integration team consisting of leaders from both organizations. The Company also announced that Theresa Mason will continue to serve as President of Grange Life after the acquisition is completed.

The transaction is anticipated to close at the end of the third quarter. Following the acquisition, Grange Life personnel will continue to service existing policyholders and will assist in distributing Grange Life and Kansas City Life products. Grange Life will continue to operate in Columbus, Ohio, after closing with a goal of providing a near seamless transition for the customers and agents. The base purchase price for the transaction is anticipated to be approximately $77.2 million.

Recall insurance-related acquisitions here.