Magic Johnson Enterprises completes acquires EquiTrust Life Insurance

Magic Johnson Enterprises (MJE) has completed the acquisition of a majority, controlling interest in EquiTrust Life Insurance, a $14.5bn financial services company.

By Verdict Staff

Verdict Staff

Chicago-based EquiTrust distributes fixed-rate and indexed annuities and life insurance through a national network of more than 23,800 independent agents.

Earvin Johnson, CEO and chairman of MJE, said: "EquiTrust provides MJE a tremendous platform to advocate for financial literacy and assist in creating job opportunities at every level. We will educate and emphasize the importance of life insurance for estate planning and annuities for retirement planning purposes."