Mutual of America to acquire Landmark Life

Mutual of America has entered into a Stock Purchase Agreement to acquire Landmark Life , a licensed Texas-based life and annuity insurance company. The transaction is expected to close during the third quarter of 2022, subject to customary closing conditions, including regulatory approval.

“The acquisition of Landmark Life represents another positive step toward achieving Mutual of America’s strategic growth plans in the guaranteed retirement income space.” – John R. Greed, chairman, president and CEO of Mutual of America Financial Group.

“This transaction will enhance our financial and distribution capacities to provide guaranteed income solutions and other products to individuals outside the state of New York.” – Simpa Baiye, EVP and chief actuary of Mutual of America Financial Group.

“The sale of Landmark Life represents a meaningful step toward our plans to focus on providing high-value, third-party administrative services to life insurers nationwide.” – Tom Munson, CEO of Landmark Life and Jarvis Family general partner.