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October 20, 2022

Standard Insurance

Standard Insurance (The Standard) and Securian Financial Group reached a definitive agreement under which The Standard will acquire Securian Financial's retirement record-keeping business. The acquisition is expected to close this year. The Standard, founded in 1906 and based in Portland, has offered retirement plans since 1982 with an emphasis on small to mid-sized plans. Securian Financial, founded in 1880 and headquartered in St. Paul, Minnesota, offers a similar suite of defined contribution and defined benefit products and services. The transaction, which excludes Securian Financial's pension risk transfer and institutional retirement businesses, will significantly expand the scale and competitive position of The Standard's retirement offerings in the U.S. and will accelerate its diversification and growth in the retirement record-keeping segment. Securian Financial's employees, sales team and management who supported the recordkeeping business will join The Standard following the close of the transaction. PJT Partners is acting as financial advisor and Locke Lord is acting as legal advisor to The Standard. Goldman Sachs is acting as financial advisor and Eversheds Sutherland is acting as legal advisor to Securian Financial.




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