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January 25, 2018updated 30 Jan 2018 6:40am

Renaissance to acquire Security Mutual’s group life, disability and accident insurance division

Renaissance Life & Health Insurance Company of America has agreed to acquire Security Mutual Life Insurance Company of New York’s group life, disability and accident insurance division.

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As part of the transaction, Security Mutual will transfer its group life, disability, and accident insurance division to Renaissance while Renaissance will offer dental and vision plans to Security Mutual.

As a result, Renaissance has relocated its corporate headquarters from New York City to 2 Court Street in Binghamton.

Renaissance president and CEO Robert Mulligan said: “This transaction demonstrates our strategic commitment to broaden and enhance our insurance product offerings and position our company as a multi-line ancillary insurance leader.

“We believe the addition of Security Mutual’s group operation will create a seamless buying and service experience for our key customer segments, which include brokers and the employers and employees they trust us to insure.”

Commenting on the deal, Security Mutual chairman, president and CEO Bruce Boyea said: “It will enhance the ability of each company to serve the diverse and emerging insurance needs of their customers throughout the US and promote employment in Greater Binghamton.”

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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