HARTFORD, Conn. & WHITE PLAINS, N.Y., Aug. 3, 2016 — Nassau Reinsurance Group Holdings, L.P. (“Nassau Re”) and Universal American Corp. (NYSE:UAM) (“Universal American”) today announced the successful completion of Nassau Re’s previously announced acquisition of Universal American’s Traditional Insurance business.
The Traditional Insurance business consists of a closed block of insurance products, including approximately 150,000 insurance policies across Medicare supplement, life insurance, long-term care, disability insurance and other specialty health policies.
NEW YORK, Oct. 8, 2015 — Nassau Reinsurance Group (“Nassau”) today announced that it has entered into a definitive agreement to acquire Universal American Corp.’s (NYSE:UAM) (“Universal American”) Traditional Insurance business (“Traditional Insurance business”). The transaction is expected to close in early 2016.
The Traditional Insurance business consists of a closed block of insurance products, including Medicare supplement, other senior health insurance, specialty health insurance and life insurance, including a non-strategic closed block of long-term care insurance policies. The Traditional Insurance business includes Universal American subsidiaries Constitution Life Insurance Company (“Constitution Life”) and The Pyramid Life Insurance Company (“Pyramid”), as well as a portion of business written by American Progressive Life & Health Insurance Company of New York (“American Progressive”).