AM Greatest has commented that the Monetary Power Score of A- (Wonderful) and the Lengthy-Time period ICRs of “a-” of Nationwide Academics Associates Life Insurance coverage Firm (headquartered in Addison, TX) and its subsidiary, NTA Life Insurance coverage Firm of New York (New York, NY) (collectively, known as NTA Life), are unchanged following the announcement of the sale of the businesses to Horace Mann Educators Company (Horace Mann). The transaction, introduced Dec. 10, 2018, is predicted to shut within the second quarter of 2019 pending regulatory approval.
Whereas it’s anticipated that the transaction could change capital administration at NTA Life, the businesses could have entry to extra liquidity and capital assist from Horace Mann. Over time, NTA Life may benefit from operational synergies with its new mother or father in addition to cross-selling alternatives for its major merchandise. NTA Life is a strategic match with the Horace Mann group as Horace Mann additionally serves the schooling market. Administration has indicated that after the transaction closes, NTA Life will function as a division of Horace Mann with its present administration workforce. AM Greatest will proceed to observe NTA and any developments with the pending transaction, and can take score motion if essential.
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