MassMutual to buy Great American Life Insurance
February 3, 2021 by Emile Hallez
The deal will reinforce MassMutual’s focus on its retail annuities business. Last year, the company sold its defined-contribution record-keeping business to Empower Retirement via a reinsurance transaction with a ceding commission of $2.35 billion.
Massachusetts Mutual Life Insurance Co. is snapping up another major annuity provider, Great American Life Insurance Company, for $3.5 billion, the company announced Wednesday.