Aflac Agrees to Acquire Zurich North America Group Benefits Business
March 25, 2020 by Allison Bell
Aflac Inc. may be about to compete harder for group business at large employers.
The Columbus, Georgia, company has agreed to acquire Zurich North America’s U.S. corporate life and pensions business. The business is best known for its group life, disability and absence management products.
Traditionally, Aflac has been best known for selling individual products at the worksite.
Aflac is making the Zurich North America group benefits deal by having a subsidiary based in Georgia and a subsidiary based in New York reinsure Zurich North America’s U.S. in-force group life and disability policies, Aflac says.