National Guardian Life will acquire individual life and annuity business of Madison National Life
Effective July 31, 2015, National Guardian Life Insurance Company, located in Madison, will acquire the individual life and annuity business of Madison National Life Insurance Company, also located in Madison. The acquired business consists primarily of ordinary life, universal life, and annuities totaling approximately $260 million of reserves and representing 280,000 policyholders.
Also to be transferred as part of the transaction is MNL’s individual life and annuity administrative operation and the associated information systems. Upon closing, NGL will offer employment to most of the MNL employees associated with the acquired business. The Madison office where the acquired MNL employees currently reside will be maintained by NGL.