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Apr. 11, 2013, 4:19 AMProtective Life (PL) has agreed to acquire Mony Life Insurance Company from France's AXA (AXAHF.PK) for $1.06B, with the deal forecast to add $0.10-0.15 to Protective Life's EPS in 2013 and $0.55-0.65 in 2014. "This book of business, comprised primarily of life insurance policies written prior to 2004...should produce a steady and predictable stream of earnings for many years to come," says Protective Life CEO John Johns. (PR) (previous) | Comment!
Mar. 27, 2013, 5:51 AMProtective Life Insurance (PL) is reportedly in the lead to buy some of the U.S. life insurance assets of France's Axa (AXAHF.PK) in a transaction that could be worth $1B, or more than a third of Protective's market cap of $2.8B. A deal would help the firm expand beyond its main focus of variable annuity business, which is becoming harder to manage.
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