Ameritas Life Insurance Corporation Makes Announcement.LINCOLN, Neb.--(BUSINESS WIRE)--Jan. 6, 1999--On January 1, 1999, Ameritas Mutual Insurance Holding Company of Lincoln and Acacia acacia (əkā`shə), any plant of the large leguminous genus Acacia, often thorny shrubs and trees of the family Leguminosae (pulse family). Mutual Holding Corporation of Washington, D.C., merged to form Ameritas Acacia Mutual Holding Company. The merger, the first ever between two mutual insurance holding companies, has attracted industry attention because of the manner in which it preserves each organization's identity. Ameritas Life Insurance Corp. and Acacia Life Insurance Company The ‘’’Acacia Life Insurance Company’’’ was established in 1867 as a mutual company owned by its policyowners. Its headquarters are in Washington, D.C. remain stock subsidiary companies, each maintaining its respective domiciliary domiciliary pertaining to a household. domiciliary calls professional veterinary calls made to patients at their owners' residences. Called also house calls. state. The merged entity, Ameritas Acacia Mutual Holding Company, is a Nebraska mutual insurance holding company domiciled dom·i·cile n. 1. A residence; a home. 2. One's legal residence. v. dom·i·ciled, dom·i·cil·ing, dom·i·ciles v.tr. 1. in Lincoln. Ameritas Life Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Larry Arth said the merger will increase the competitive strength of both companies. "This strategic affiliation joins two financially strong and growing companies," he said. "Combined, we offer a full, diversified range of products and services: traditional life insurance and annuities, variable life insurance and annuities, group dental products and services, low-load insurance, pension and 401(k) plans, investment products and services, banking products and services, a variety of mutual funds, and full-service broker/dealers." Acacia Life Chairman and CEO Tuck Nason said that another benefit of the merger will result from the formation of a combined service center that supports both companies. "By consolidating individual administrative and operational support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services for Ameritas and Acacia, we can operate more efficiently, improve unit costs, and devote more resources to product development and customer service technologies," he said. The consolidation will also create approximately 100 new jobs in Lincoln. Ameritas Acacia Mutual Holding Company has more than 200,000 policyholder/members, $11.3 billion of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , $6 billion of insurance assets, $19.3 billion of life insurance in force, $721.6 million in annual revenues and $765 million in equity capital. Ameritas Acacia Mutual Holding Company Officers elected by the Board of Directors are: Chairman and CEO: Larry Arth (Ameritas) Vice Chairman and President: Tuck Nason (Acacia) Executive Vice Presidents: Ken Louis (Ameritas) and Bob Clyde (Acacia) Senior Vice President, Chief Financial Officer and Corporate Treasurer: JoAnn Martin (Ameritas) Senior Vice President and Director of Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. : Janet Schmidt (Acacia) Senior Vice Presidents and co-General Counsels: Judge Norman Krivosha (Ameritas) and Robert-John Sands (Acacia) Corporate Secretary: Donald Stading (Ameritas) These officers will also retain their titles and responsibilities at the subsidiary companies within the holding company. |
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