Mutual of America Financial to acquire Landmark Life Insurance

Mutual of America Financial Group has agreed to acquire Landmark Life Insurance Company, a Texas-based life and annuity insurance provider, for an undisclosed price.

Headquartered in Brownwood, Landmark Life Insurance is a fully-owned subsidiary of The Jarvis Family Limited Partnership.

Tom Munson — CEO of Landmark Life Insurance and Jarvis Family general partner said: “The sale of Landmark Life represents a meaningful step toward our plans to focus on providing high-value, third-party administrative services to life insurers nationwide.”

Established in 1964, it is engaged in underwriting life insurance and annuities in 36 states. Through an independent agency force, Landmark Life Insurance solicits annuity and life business.

Mutual of America Financial Group is a provider of retirement services and investments.

John R. Greed — Chairman, President, and CEO of Mutual of America Financial Group said: “The acquisition of Landmark Life represents another positive step toward achieving Mutual of America’s strategic growth plans in the guaranteed retirement income space.”

The deal, which is subject to regulatory approval and customary conditions, is likely to close during Q3 2022.