OneAmerica affiliate to acquire Golden Rule's Financial Services Division
Indianapolis -- July 28, 2005
OneAmerica Financial Partners, Inc., and Golden Rule Insurance Company announced today that they have entered into an agreement whereby OneAmerica affiliate The State Life Insurance Company will purchase Golden Rule's Indianapolis-based Financial Services Division through an indemnity reinsurance agreement. Terms of the agreement were not disclosed.
By this agreement, State Life will take over the life, annuity and long-term care business of Golden Rule's Financial Services Division. Golden Rule's Financial Services Division staff will transfer to OneAmerica after the transaction's close. This transaction will increase the assets of OneAmerica's individual insurance operations by $1.8 billion.
"In addition to adding significant scale to OneAmerica's individual insurance operations, this transaction will enhance the organization's distribution capabilities and bring new, innovative product offerings to the portfolio of OneAmerica's affiliate companies," said OneAmerica President and CEO Dayton H. Molendorp. "This transaction supports OneAmerica's strategic growth plans and will help build long-term value for the policyholders, employees, agents and other stakeholders of OneAmerica's affiliate companies."
About OneAmerica/State Life
OneAmerica Financial Partners, Inc., through its life insurance companies, has more than 125 years of experience providing for insurance and financial needs of policyholders. OneAmerica's nationwide network of companies and affiliates offers retirement plan products and services; individual life insurance and annuities; long-term care insurance; and group and credit insurance. The company was formed December 17, 2000, as part of the conversion of American United Life Insurance Company to American United Mutual Insurance Holding Company (AUMIHC). Headquartered in Indianapolis, IN, The State Life Insurance Company is part of the OneAmerica family of companies. Specializing in individual long-term care insurance, State Life is licensed and authorized to conduct business in 46 states and the District of Columbia.
About Golden Rule
Golden Rule Insurance Company, a subsidiary of UnitedHealthcare, Inc., has been a leader in the individual health market for nearly 60 years, providing a comprehensive array of consumer-oriented health plans and services to individuals and families. The Company's experience and expertise in this segment of the health market drive the development of plans that strive to make health coverage more affordable for more Americans. A recognized pioneer and one of the nation's leading providers of Health Savings plans, Golden Rule continues to seek and embrace new ways to build plans with the benefits consumers need.
