Conseco to Acquire Two California Insurance Services

Conseco, Inc. recently announced that it has signed an agreement to acquire the Associated California State Insurance Agencies, Inc. (ACSIA) and its sister company, Ardiel Insurance Service, Inc., from Fortis, Inc.

The acquisition is subject to customary conditions and is expected to close within 60 days. The terms of the transaction were not announced.

"ACSIA's focus and experience in the long term care market coupled with its nationwide presence will strengthen Conseco's current leadership position in this important and growing market," said Liz Georgakopoulos, president of Conseco's supplemental health division. "We are also excited about exploring ways to leverage ACSIA's success with other senior market products."

Bart Kosten, CEO of ACSIA, agreed. "Being able to partner with the market leader and leverage Conseco's emerging brand will be a great asset to ACSIA and our agents," said Kosten.

"Being able to add such a highly coveted distributor to Conseco further enhances our position as the market leader in long-term care and the senior marketplace," added Ed Berube, president of the Conseco Insurance Group.

Edited by John Griffiths