HARTFORD, Conn., Nov. 18, 2022 – Nassau Financial Group, L.P. (“Nassau”) today announced that it has entered into a definitive agreement for its subsidiary, Nassau Life Insurance Company (“NNY”), to acquire Delaware Life Insurance Company of New York (“DLNY”) from Delaware Life Insurance Company (“Delaware Life”). NNY and DLNY are New York-domiciled life insurance companies.
The transaction is expected to close in the second half of 2023 and is subject to customary closing conditions, including receipt of regulatory approvals.
“As Nassau’s fourth insurance acquisition, this transaction marks yet another step in our growth plans to expand our New York insurance business. We appreciate the opportunity to work closely with Delaware Life, providing seamless execution in support of their strategic objectives,” said Phil Gass, Chief Executive Officer of Nassau. “With our similar lines of business and widely recognized best-in-class service, we stand ready to welcome DLNY’s policyholders to Nassau.”